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US applications for unemployment benefits fall again despite recent layoff announcements

Unemployment Benefits
Posted at 8:54 AM, Feb 08, 2024
and last updated 2024-02-08 08:54:08-05

The number of Americans filing for jobless claims fell last week despite more layoff announcements from high-profile companies recently.

Applications for unemployment benefits fell by 9,000 to 218,000 for the week ending Feb. 3, the Labor Department reported Thursday.

Weekly unemployment claims are seen as a proxy for the number of U.S. layoffs in a given week.

They have remained at extraordinarily low levels despite efforts by the U.S. Federal Reserve to cool the economy.

In total, 1.87 million Americans were collecting jobless benefits during the week that ended Jan. 27, a decrease of 23,000 from the previous week.