09.09.202112:36:00UTC+00U.S. Weekly Jobless Claims Drop More Than Expected

After last Friday's disappointing monthly jobs report, the Labor Department released a report on Thursday showing a bigger than expected decrease in first-time claims for U.S. unemployment benefits in the week ended September 4th.

The report said initial jobless claims fell to 310,000, a decrease of 35,000 from the previous week's revised level of 345,000. Economists had expected jobless claims to edge down to 335,000 from the 340,000 originally reported for the previous week.

With the bigger than expected decrease, jobless claims once again dropped to their lowest level since hitting 256,000 in the week ended March 14, 2020.