New applications for unemployment benefits are likely to hold near pandemic lows, showing the labor market is progressing despite uncertainty caused by the Delta variant of Covid-19.
Economists surveyed by The Wall Street Journal estimate that initial jobless claims, a proxy for layoffs, declined by 8,000 to a seasonally adjusted 345,000 in the week ended Aug. 28. That number would be the lowest level since the pandemic took hold in the U.S. in March 2020.
