US jobless claims drop to pandemic low of 267,000

By PAUL WISEMAN
AP Economics Writer

WASHINGTON (AP) — The number of Americans applying for unemployment benefits fell to a new pandemic low 267,000 last week, another sign that the job market is recovering from last year’s sharp coronavirus downturn. Jobless claims fell by 4,000 last week, the Labor Department reported Wednesday. The four-week average of claims, which smooths out weekly ups and downs, dropped by nearly 7,300 to 278,000, also a pandemic low. Altogether, 2,2 million Americans were collecting traditional unemployment benefits the week that ended Oct. 30.