Filings for initial jobless claims dropped to 730,000, the lowest weekly level since late November
“We know really fast job growth is coming as soon as some of these industries—hospitality, entertainment and travel—can get going again,” said Andy Challenger, senior vice president at outplacement firm Challenger, Gray & Christmas. “But right now we’re in the doldrums of this recovery.
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Winter weather likely caused some temporary layoffs among construction firms and small businesses in recent weeks, Mr. Challenger said. Among the larger entities that his company tracks, job-cut announcements are well down from earlier in the pandemic but are becoming more broad-based and include airlines
, food manufacturers
, government agencies and media companies.