- Weekly jobless claims totaled 684,000 last week, a decline from the 781,000 the week before and below the 735,000 Dow Jones estimate.
- This was the first time claims had been below 700,000 during the pandemic era.
- In a separate report, fourth-quarter GDP was stronger than expected at 4.3%.
First-time claims for unemployment insurance unexpectedly fell sharply last week amid signs that hiring has picked up in the U.S. economy, the Labor Department reported Thursday.
Claims totaled 684,000 for the week ended March 20, the first time the number has been below 700,000 during the Covid-19 era. The level was a substantial decline from the 781,000 from a week earlier and was the lowest since March 14, 2020, just as the pandemic had begun.
News Source:- CNBC