Jobless claims fall to another pandemic-era low

Jobless claims fell yet again in the week ended 8 May, according to the Labor Department, slipping from January's peak of about 900,000 to a new pandemic-era low of 473,000.

The figure marks the lowest level for initial claims since 14 March 2020 when it was 256,000.

Continuing claims came in at 3.65m, down from an upwardly revised figure of 3.7m.

The four-week moving average was 534,000, a decrease of 28,250 from the previous week's revised average - again, the lowest level since March 2020 when it was 225,500.