The number of workers seeking unemployment benefits likely marched further downward last week, a sign that companies are hesitant to lay off employees as the economy quickly recovers.
Jobless claims are at the lowest levels since the pandemic hit last spring.
Economists surveyed by The Wall Street Journal expect the Labor Department to report that claims, a proxy for layoffs, declined to 370,000 last week from 385,000 a week earlier.
Claims remain well above weekly filings of just over 200,000 logged before the pandemic shut down large parts of the economy in March 2020.
Employers added 559,000 jobs in May, falling short of many economists’ predictions and reflecting businesses’ difficulties filling open jobs as potential workers remain on the sidelines.
”, David Berson
Wall, Labor Department, “ Employers, Nationwide Mutual Insurance Co, Employers