Unemployment claims declined to the lowest level since the pandemic struck last spring, adding to signs the U.S. economic revival is picking up speed.
Jobless claims, a proxy for layoffs, fell to 576,000 last week from 769,000 a week earlier.
That is the lowest weekly figure since March 2020, but still way above the levels of around 220,000 that prevailed early last year, before the coronavirus pandemic hit the U.S. economy.
“The labor market is on a recovery path,” said AnnElizabeth Konkel, economist at the job site Indeed. “The recovery…