The number of Americans filing new claims for unemployment benefits fell to a 17-month low last week, pointing to another month of job growth. Increases in COVID-19 infections, however, still pose a risk to the labor market recovery. The weekly unemployment claims report from the Labor Department on Thursday August 19, showed that the number of people on state jobless rolls dropped in early August to levels last seen in mid-March 2020. Claims for state unemployment benefits fell 29,000 to a seasonally adjusted 348,000 for the week ended Aug. 14. The fourth straight weekly decline pushed claims to their lowest level since mid-March 2020. Claims have been decreasing, with employers hanging on to their workers amid a labor shortage as vaccinations allow the economy to fully reopen.
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