Biden hails drop in US unemployment claims to half-century low

WASHINGTON: US President Joe Biden cheered government data released on Thursday that showed unemployment benefit filings dropping to levels not seen in more than 50 years, calling it evidence his economic policies were working.

It also said the number of people receiving regular state unemployment benefits in the week ending Mar 12 was 1.35 million, the lowest it had been since Jan 3, 1970. Both of those figures represented decreases from the week prior. The weekly claims data indicates the prevalence of layoffs in the world's largest economy, and became closely watched in March 2020 when companies shed staff droves as the COVID-19 pandemic began and joblessness surged.

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