US weekly jobless claims fall below 500,000 for the first time since pandemic lockdowns began

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People line up outside Kentucky Career Center prior to its opening to find assistance with their unemployment claims in Frankfort, Kentucky, June 18, 2020.US initial jobless claims sank to a pandemic-era low of 498,000 last week, a fourth straight decline.

Economists expected claims to fall to 538,000. The previous week's reading was revised higher to 590,000.See more stories on Insider's business pageFewer Americans filed for unemployment benefits last week as the gradual reopening of the economy continued to heal the US labor market., coming in below the median estimate of 538,000 claims from economists surveyed by Bloomberg. The reading marks a fourth straight weekly decline and a new pandemic-era low.

 

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Well yeah UBI err 'Stimulus'.

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