Jobless claims fall for second straight week
(CNN)– Initial jobless claims fell for the second week in a row.
According to the Labor Department, there were an estimated 277 thousand new claims for unemployment insurance.
That’s seven thousand less than the previous week.
Weekly jobless claims are a key indicator of layoff activity in the labor market.
Despite trending higher in recent months, they remain below historical averages.
In the decade before the covid pandemic, weekly jobless claims average 311 thousand.
