U.S. Initial Jobless Claims Edge Up But Hold Near Pandemic Low

Applications for U.S. state unemployment insurance edged up last week, though remained near a pandemic low, as the labor market grinds its way toward a full recovery.

Initial claims in regular state programs increased by 2,000 to 373,000 in the week ended July 3, Labor Department data showed Thursday. The median estimate in a Bloomberg survey of economists called for 350,000 new applications.

Even with the latest increase, new weekly filings for jobless benefits have more than halved since the beginning of the year as health concerns abate and pent-up demand fuels hiring at businesses like hotels and restaurants. ...