Jobless claims reach a new pandemic-era low

(KYMA, KECY/ CNN) - Weekly claims for unemployment benefits have dropped to their lowest level so far in the pandemic-era.

The Labor Department reported Thursday that weekly claims for jobless benefits fell last week to 406,000 on a seasonally adjusted basis.

That is a better number than economists were expecting, and a new pandemic-era low.

The new numbers are not only an indication that the economic recovery is progressing, but they also come as states get ready to slash enhanced pandemic unemployment benefits ahead of the program's official September end date.