Feds report U.S. jobless claims drop for second straight week, lowest since early months of pandemic

The Labor Department announced Thursday the number of Americans applying for first-time unemployment benefits dropped last week to 293,000, the lowest number since the early part of the pandemic.

Last week's number was the 36,000 less than the previous week's and marked the second, consecutively weekly decline. 

The department also said the number is the lowest since the week of March 14, 2020, when the pandemic intensified.

The report suggest the U.S. job market continues to improve amid the pandemic even as hiring has slowed in the past two months, according to the Associated Press. 

Applications for jobless aid, which generally track the pace of layoffs, have fallen steadily since last spring as many businesses, struggling to fill jobs, have held onto their workers, the wire service also reports.