Weekly Unemployment Claims Hit Lowest Level Since the Start of the Pandemic

The number of people filing new jobless claims fell to a pandemic low of 473,000 for the week ending May 8, according to the Department of Labor. Of course, a decline in unemployment claims should be taken as good news. The American Rescue Plan -- the relief package that put $1,400 stimulus checks into Americans' bank accounts -- included a provision to boost unemployment benefits by $300 a week through the beginning of September.