Initial Unemployment Claims for the week ending March 20th fell below 700,000 for the first time in a year, coming in at a seasonally adjusted 684,000.
The figure was a 97,000 drop from the revised 770,000 a week earlier and beat Wall Street expectations of 735,000.
It was the first week since the pandemic began that weekly claims fell below the pre-pandemic record of 695,000 set in 1982, though they remain above the Great Recession high of 665,000.
Read more at The Hill.
{Matzav.com}
