The number of newly unemployed Americans dropped to the lowest point in decades last week, a sign of solidity in the country’s economic recovery.
Adjusted for seasonality, there were 199,000 initial claims for unemployment insurance, according to the U.S. Department of Labor. Over the previous four weeks, the average was much higher, at 252,250. For the last week before Covid-19 closures began in March 2020, there were 225,500 seasonally adjusted, new unemployment insurance claims.
A shrinking number of newly unemployed workers points to the fact that companies are not letting people go—meaning their business might be doing well or they do not fear coming Covid-19 cases or health-related
→ Continue reading at Crain's New York Business