Applications for U.S. unemployment benefits rose last week, but remain near historically low levels, reflecting relatively few layoffs across the economy
FILE - Marriott human resources recruiter Mariela Cuevas, left, talks to Lisbet Oliveros, during a job fair at Hard Rock Stadium, Friday, Sept. 3, 2021, in Miami Gardens, Fla. Last month, U.S. employers might have shed jobs for the first time in about a year, potentially raising alarms about the economys trajectory. Yet even if the January employment report coming Friday, Feb.
Yet the four-week average for claims, which compensates for weekly volatility, fell by 10,500 to 243,250. It was the second straight week of declines after rising for five straight weeks as the omicron variant of the coronavirus spread, disrupting business in many parts of the U.S. First-time applications for jobless aid generally track the pace of layoffs, which are back down to fairly healthy pre-pandemic levels.
Massive government spending and the vaccine rollout jumpstarted the economy as employers added a record 6.4 million jobs last year. The U.S. economy expanded 5.7% in 2021, growing last year at the fastest annual pace since a 7.2% surge in 1984, also coming after a recession.
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