US jobless claims plunge to 576,000, lowest since pandemic

WASHINGTON (AP) — The number of Americans applying for unemployment benefits fell sharply last week to 576,000, a hopeful sign that layoffs are easing as the economy recovers from the pandemic recession.

The Labor Department said Thursday that applications plummeted 193,000 from a revised 769,000 a week earlier.

Jobless claims are now down sharply from a peak of 900,000 in early January.