In another sign that the U.S. economy is gaining post-pandemic traction, the number of people seeking unemployment benefits fell last week for a fourth straight time to a pandemic low, according to an article by the Associated Press.
The Labor Department reported Thursday that jobless claims fell by 29,000 to 348,000. The four-week average of claims, which smooths out week-to-week volatility, fell by 19,000 to just below 378,000, also a pandemic low.
Since the widespread administering of COVID-19 vaccines, the weekly pace of applications for unemployment aid has fallen steadily since topping 900,000 in early January. However, with new cases rising due to the Delta variant, there is concern about an economic disruption in the second half of 2021.
