Unemployment Claims Fall to Lowest Level Since Beginning of COVID-19 Pandemic Last Year

Job seekers look over job opening fliers at a WorkSource exhibit. David McNew/Getty Images

Initial jobless claims dropped below 300,000 for the first time since the beginning of the COVID-19 pandemic, when lockdowns were commonplace, according to a report released by the Labor Department on Oct. 14.

The claims, which analysts often tie to layoffs, decreased to 293,000 last week, as compared with 329,000 a week earlier, the agency stated. The four-week moving average for unemployment claims fell to 334,250—the lowest since March 2020.