U.S. jobless claims fell slightly to 385,000 last week, as worker filings for new unemployment benefits settled this summer at a level that is nearly double the pre-pandemic average.
The decrease in filings reported by the Labor Department on Thursday comes as the economic recovery faces risks from the Covid-19 surge driven by the Delta variant, supply-chain constraints and a shortage of available workers. The four-week moving average, which smooths out volatility in the weekly figures slightly decreased to 394,000.
Continuing claims for regular state programs, which provides an approximation of the number of people receiving benefits, dropped by 366,000 to 2.9 million in the week ended July 24, the most recent figures for that reading.
Claims have hovered between 368,000 and 424,000 since late May, elevated above pre-pandemic levels but significantly lower than early in the pandemic. The 2019 weekly average, ahead of the pandemic, was 218,000.
The trend, some economists say, could be happening while the labor market continues to recover from the pandemic and be part of a development where claims remain higher because of greater awareness of unemployment insurance programs.
