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U.S. State Jobless Claims Fell to Pandemic-Era Low Last Week

  • Applications for benefits dropped to 684,000, lowest in a year
  • Decline was led by fewer unemployment claims in Illinois, Ohio
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U.S. Jobless Claims Fall to Lowest in a Year
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Applications for U.S. unemployment benefits fell to the lowest in a year, signaling improvement for the labor market as more Americans get Covid-19 vaccinations and business restrictions ease in many states.

Initial claims in regular state programs fell by 97,000 to 684,000 in the week ended March 20, Labor Department data showed Thursday. On an unadjusted basis, the claims decreased by 100,412 to 656,789 last week, led by sharp drops in Illinois and Ohio. The median estimate in a Bloomberg survey had called for 730,000 initial claims.