Slightly more Americans applied for unemployment benefits last week, but layoffs have settled to the low, pre-pandemic levels before 2020′s coronavirus recession.
The Associated Press
Jobless claims rose by 11,000 to 227,000 for the week ending March 5, the Labor Department reported Thursday. The previous week's number was 216,000. First-time applications for jobless aid generally track the pace of layoffs.In total, 1,474,000 Americans were collecting jobless aid the week that ended Feb. 26, up slightly from the week before that. The four-week moving average for that number is at its lowest level in more than 50 years.
At the other end of the equation, U.S. businesses posted a near-record level of open jobs in January. That trend has helped pad workers’ pay and added to inflationary pressures. The number of people quitting their jobs slipped to 4.25 million, down from 4.4 million, though January’s figure is still 23% above pre-pandemic levels. Millions of people are jumping to switch jobs, often for higher pay.
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