Jobless claims tumble below 500,000 in another sign the labor market is getting closer to pre-pandemic levels - CNBC
However, continuing claims actually ticked higher last week, rising 37,000 to just below 3.7 million.While last week's numbers indicate more growth in the labor market, they won't figure into the nonfarm payrolls count because they are outside the survey week the Bureau of Labor Statistics uses to compile its estimate.A separate economic report showed that nonfarm business labor productivity accelerated 5.4% in the first quarter, well above the 4.5% Dow Jones estimate, according to the Bureau of Labor Statistics.Correction: The jobless claims total was for the week ended May 1.