Weekly first time unemployment claims fell to their lowest levels in more than a year, coming in below analysts expectations, with 684,000 Americans filing first time claims, CNBC reports.
Analysts expected 735,000 after last week’s disappointing report of 781,000 claims. Last week was the first time claims fell below 700,000 since the second full week in March 2020. It’s also the first time the number fell below the pre-pandemic record of 695,000, set in October 1982.
Continuing claims also fell by 264,000 to 3.87 million.