DOL: Jobless Claims Reach Lowest Levels Since March 2020

By:
Chris Gaetano
Published Date:
Apr 15, 2021
GettyImages-1218109894-unemployment-benefits

The U.S. Department of Labor (DOL) reported that, last week, 576,000 Americans applied for unemployment benefits. This is the lowest the number has been since the start of the pandemic lockdowns in March 2020. During the first half of March 2020, the number of weekly jobless claims hovered between 216,000 and 281,000 before exploding into the millions in the second half of the month. Job losses last week were concentrated mainly in California (69,895), Texas (65,105), and New York (56,603). As of the most recent data, some 16 million people remain on some form of unemployment benefit.

Around this time last year
, the DOL reported 4.4 million new jobless claims with, coincidentally, 16 million on unemployment benefits as well, though at the time this was an upward, not downward, trend.

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