Estimated 3M People Who Lost Jobs in Pandemic Stopped Looking for Work

About 3 million people who lost jobs during the COVID pandemic have stopped looking, new labor data shows.

The worrisome Labor Department report Thursday came as the department reported the number of Americans applying for unemployment benefits fell to its lowest level since the pandemic began — a sign the job market is improving even as hiring slowed.

Unemployment claims dropped 36,000 to 293,000 last week, the second straight drop, the Labor Department said —the smallest number of people to apply for benefits since the week of March 14, 2020.

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