Jobless claims drop as labor market rebounds

At least 14,704 new applications for state benefits were filed for the week ending April 10 — a decline of 6,216 claims from the previous week, according to the U.S.

Last week, there were 1,148 fewer new claims for Pandemic Unemployment Assistance, a federally backed program that covers workers who don’t qualify for state benefits.

Meanwhile, 104,782 continuing claims for state unemployment benefits – which lag behind a week but are viewed as a barometer of the jobless situation – were filed in the week ending April 3.

While many jobless workers have exhausted state benefits, they’ve have been buoyed by a $1.9 trillion relief bill, signed by President Joe Biden last month.

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