Unemployment Drops To Covid Lows

First-time filings for unemployment claims in the U.S. dropped to 310,00 last week. The Labor of Department reports this as the lowest of the Covid-era and a step toward pre-pandemic normal. The total for the week ending Sept. 4 represented a drop from the previous week 345,000 and is the lowest since March 14, 2020. Claims may have even been lower still, but there was a substantial bump in Louisiana following Hurricane Ida. Nearly 250,00 homes and businesses are without power following the storm. At the pandemic’s unemployment peak, filings held above 1 million per week until early August 2020. A year ago at this time, weekly claims averaged 881,000.