Applications for U.S. unemployment benefits dip to 210,000, another sign the job market is strong
The number of Americans signing up for unemployment benefits fell slightly last week, another sign that the labor market remains strong and most workers enjoy extraordinary job security
WASHINGTON (AP) — The number of Americans signing up for unemployment benefits fell slightly last week, another sign that the labor market remains strong and most workers enjoy extraordinary job security.
The Labor Department reported Thursday that jobless claims dipped by 2,000 to 210,000. The four-week average of claims, which smooths out week-to-week ups and downs, rose by 2,500 to 211,250.
Overall, 1.8 million Americans were collecting unemployment benefits the week that ended March 9, up a modest 4,000 from the week before.
Applications for unemployment benefits are viewed as a proxy for layoffs and a sign of where the job market is headed. Despite high-profile job cuts at tech companies such as Google parent Alphabet, eBay and Cisco Systems, overall layoffs remain below pre-pandemic levels. The unemployment rate, 3.9% in February, has come in under 4% for 25 straight months, longest such streak since the 1960s.
