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Economy

US jobless claims up to 744K as virus still forces layoffs

WASHINGTON (AP) - The number of Americans applying for unemployment benefits rose last week to 744,000, signaling that many employers are still cutting jobs even as more people are vaccinated against COVID-19, consumers gain confidence and the government distributes aid throughout the economy.

The Labor Department said Thursday that applications increased by 16,000 from 728,000 a week earlier.

Jobless claims have declined sharply since the virus slammed into the economy in March of last year. But they remain high by historical standards: Before the pandemic erupted, weekly applications typically remained below 220,000 a week.

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The Associated Press

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