Jobless claims hit another Covid-era low: Here’s how the headlines could affect your money
Markets were mixed, first-time unemployment claims reached another pandemic low, and some smart ways to handle a tax bill from the IRS. Here’s how the headlines could affect your money.
Stocks inch higher
Markets mostly recovered from their lows earlier in the week apart from the Nasdaq, which dropped 0.4%. The Dow, meanwhile, gained 0.3% for a record closing high, and the S&P 500 ended the day up 0.1%. The three major indexes were mixed Thursday morning.
Jobless claims hit another pandemic low
Fewer Americans are filing first-time unemployment claims. For another consecutive week, initial jobless claims reached a pandemic-era low, totaling 498,000 for the period ending May 1. That’s better than economist expectations and an improvement from the previous week.
Continuing claims were up slightly to just under 3.7 million. But analysts remain optimistic: The U.S. is vaccinating over 2 million people daily and the economy added 1 million jobs in April.