CNBC: Jobless claims tumble below 500,000 in another sign the labor market is getting closer to pre-pandemic levels
Initial claims for unemployment benefits fell sharply last week to 498,000, a drop of nearly 100,000 from the previous week and below the 527,000 estimate.
CNBC reports, “Economists expect that the economy added another 1 million jobs during the month, with hiring likely to be the quickest in the hospitality sector, which sustained the worst of the pandemic-related damage.”
