WASHINGTON, D.C. (NBC) – The number of Americans seeking unemployment benefits fell last week for a fifth straight week to a new pandemic low.
According to the U.S. Labor Department’s weekly numbers, jobless claims dropped by 20,000 last week to 385,000.
Experts say the drop in applications reflects a rebound in economic growth and the job market’s steady recovery from the coronavirus recession.
May’s monthly jobs report comes out Friday and analysts expect it to show that employers added an additional 656,000 jobs last month.
Overall, the economy remains down 8.2 million jobs from its level in February 2020 when the impacts of the virus tore through the economy.