U.S. Unemployment Claims Drop to 473,000, a New Pandemic Low

WASHINGTON (AP) – The number of Americans seeking unemployment benefits fell last week to 473,000, a new pandemic low and the latest evidence that fewer employers are cutting jobs as consumers ramp up spending and more businesses reopen.

Applications declined 34,000 from a revised 507,000 a week earlier.

The number of weekly jobless claims–a rough measure of the pace of layoffs–has fallen significantly from a peak of 900,000 in January.

Instead of cutting jobs, many employers are struggling to attract enough applicants for open positions.

By Christopher Rugaber, Associated Press

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