Jobs Report: Unemployment Claims Drop

A new jobs report says new unemployment claims have dropped to 787,000.

And Thursday’s report from the Labor Department said the number of people who are continuing to receive unemployment benefits fell by 1 million to 8.4 million.

This is being seen as a sign that layoffs have eased slightly since the pandemic began impacting jobs dramatically seven months ago. However, unemployment claims still remain high compared to pre-pandemic levels.

About 5,600 new unemployment claims were filed in the state of Michigan last week.

That’s way down from the previous week’s total of more than 15,000 claims.

It’s also similar to jobless claim numbers seen before the pandemic broke out.

Statewide unemployment claims are far below the peak number of claims filed during this pandemic, which came the week of April 4.

That’s when more than 388,000 people in Michigan filed for first-time unemployment benefits.