WASHINGTON—The number of Americans filing new claims for unemployment benefits dropped more than expected last week as layoffs subsided, with companies desperate for workers to meet surging demand unleashed by a rapidly reopening economy.
Initial claims for state unemployment benefits totaled a seasonally adjusted 406,000 for the week ended May 22, compared to 478,000 in the prior week, the Labor Department said on Thursday. That was the lowest since mid-March 2020 and kept claims below 500,000 for three straight weeks.
