US jobless claims at 730K, still high but fewest in three months
WASHINGTON (AP) — The number of Americans seeking unemployment benefits fell sharply last week in a sign that layoffs may have eased, though applications for aid remain at a historically high level.
Jobless claims declined by 111,000 from the previous week to a seasonally adjusted 730,000, the Labor Department said Thursday. It is the lowest figure since late November and the sharpest one-week decline since August. Still, before the virus erupted in the United States last March, weekly applications for unemployment benefits had never topped 700,000.
The latest figures coincide with a weakened job market that has made scant progress in the past three months. Hiring averaged just 29,000 a month from November through January. Though the unemployment rate was 6.3% in January, a broader measure that includes people who have given up on their job searches is closer to 10%.
All told, 19 million people were receiving unemployment aid as of Feb. 6, up from 18.3 million the previous week.