The number of Americans filing new unemployment claims dropped sharply to 498,000 last week as the economy continues to recover from the coronavirus pandemic, according to the Department of Labor.
The Bureau of Labor and Statistics figure released Thursday represented a large decrease in the number of new jobless claims compared to the week ending April 24, when 590,000 new jobless claims were reported. That number was revised up from the 553,000 jobless claims initially reported last week.
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