New claims for unemployment benefits fell to 2.123 million last week, data from the Department of Labor showed Thursday.
That brings new unemployment claims, a proxy for layoffs, since the coronavirus pandemic began to claim jobs ten weeks ago to nearly 40 million.
Economists had been expecting around 2.1 million for weekly claims. The prior week was revised up by 8,000 to 2,438,000.
Claims hit a record 6.87 million for the week of March 27. Each subsequent week has seen claims decline. Read more…