WASHINGTON—The number of Americans filing new claims for unemployment benefits last week dropped to a fresh one-year low, suggesting layoffs were subsiding and strengthening expectations for job growth in April as a re-opening economy unleashes pent-up demand.
But the labor market recovery has a long way to go, with the report from the Labor Department on April 22 showing at least 17.4 million people were collecting unemployment checks in early April, a sign that long-term joblessness was becoming entrenched.
