US jobless claims plunge to 576,000, lowest since pandemic

FILE - In this May 7, 2020, file photo, a person looks inside the closed doors of the Pasadena Community Job Center in Pasadena, Calif., during the coronavirus outbreak. While most Americans have weathered the pandemic financially, about 38 million say they are worse off now than before the outbreak began in the U.S.

The Labor Department said Thursday that applications plummeted by 193,000 from a revised 769,000 a week earlier. Jobless claims are now down sharply from a peak of 900,000 in early January. Economists point to a range of potential explanations for the discrepancy. For one thing, many states are still struggling to clear backlogs of applications from previous weeks. As a result, jobless claims being reported now may stem from layoffs that occurred weeks ago. Some states are also facing what they suspect is a sizable number of fraudulent claims for unemployment aid.

Most analysts have grown bullish about the economy’s prospects for the coming months. They include Federal Reserve Chair

Yall really tried to make everyone think the pandemic is over huh

“Post-COVID”.......?

Post Covid my ass

The pandemic is still happening, fyi

Post covid?

Post-COVID You do know it’s not gone yet right?

But Glorious Orange Leader said everything would collapse without his leadership!

So are we officially “post-covid”?

Yet my job was just shutdown again a week ago as covid cases skyrocket

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