U.S. weekly jobless claims total 360,000, as expected

Initial claims for unemployment insurance fell to a new pandemic-era low last week, the Labor Department reported Thursday.

First-time filings for benefits totaled 360,000, in line with Dow Jones estimates and the best number since March 14, 2020.

The total represented a substantial decrease from the previous week’s upwardly revised 386,000.

Continuing claims also fell sharply, declining by 126,000 to 3.24 million. That also represented a new low for a jobs market that still has some distance to go before getting back to its pre-Covid 19 self but has made significant strides.

Markets reacted little to the claims news, with stock market futures pointing lower and government bond yields edging down following the release.

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