The number of Americans filing for unemployment benefits rose slightly last week even while the economy and the job market appear to be rebounding from the coronavirus recession with sustained energy.
Today’s Labor Department report shows jobless claims increased by 2,000, to 373,000, from the previous week. Weekly applications, which generally track the pace of layoffs, have fallen steadily this year from more than 900,000 at the start of the year. The four-week average of applications, which smooths out week-to-week volatility, is now 394,500—the lowest number since the pandemic erupted in March of last year.
Still, the nation remains 6.8 million jobs short of the level it had in February 2020, just before the pandemic tore through the economy, eliminating tens of millions of jobs. And weekly applications for unemployment benefits, though down sharply from earlier peaks, are still comparatively high. See the report.
