BREAKING: The number of Americans applying for unemployment benefits fell for the seventh straight week to a pandemic low 268,000. U.S. jobless claims dipped by 1,000 last week from the week before, the Labor Department reported.
WASHINGTON — The number of Americans applying for unemployment benefits fell for the seventh straight week to a pandemic low of 268,000.
The applications for unemployment aid are a proxy for layoffs, and their steady decline this year — after topping 900,000 one week in early January — reflects the labor market’s strong recovery from last year’s brief but intense coronavirus recession. The four-week average of claims, which smooths week-to-week volatility, also fell to a pandemic low just below 273,000.Overall, 2.1 million Americans were collecting traditional unemployment checks the week that ended Nov.
But the economy began to recover last summer. Consumers, pocketing government relief checks and gaining confidence as COVID-19 cases fell, resumed spending. With the rollout of vaccines this year, they began to return to shops, restaurants and bars.
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