U.S. Unemployment Claims Drop to 473,000, a New Pandemic Low

Associated Press (05/13/21) Rugaber, Christopher

The latest report from the U.S. Department of Labor reveals a decrease in the number of Americans filing for unemployment benefits, reaching a pandemic low of 473,000. This decline, down 34,000 from the previous week, suggests a trend of fewer job cuts as consumer spending increases and more businesses reopen. Jobless claims have notably dropped from a peak of 900,000 in January. However, instead of layoffs, many employers now face challenges in attracting sufficient applicants for their open positions.

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