WASHINGTON—Fewer Americans filed new claims for unemployment benefits last week as the labor market recovery gains steam amid an economic boom, which is being fueled by a rapidly improving public health situation and massive government financial assistance. Labor market strength was reinforced by other data on Thursday showing U.S.-based employers in April announced the fewest job cuts in nearly 21 years. The reports added to other upbeat employment data in suggesting that the economy enjoyed another blockbuster month of job growth in April. But the labor market is not out of the woods yet, with about 16.2 million people still on unemployment benefits. “Claims are signaling a new stage in the labor market recovery,” said Gus Faucher, chief economist at PNC Financial in Pittsburgh, Pennsylvania. “Although unemployment remains elevated, the labor market is rapidly recovering.” Initial claims for state unemployment benefits tumbled 92,000 to a seasonally adjusted 498,000 for the …