Fewest Americans collecting aid since 1970

WASHINGTON (AP) — The number of Americans collecting unemployment benefits fell to a 52-year low after another decline in jobless aid applications last week.

Jobless claims fell by 17,000, from 249,000 to 232,000 for the week ending Feb. 19, the Labor Department reported Thursday.

The four-week average for claims, which compensates for weekly volatility, fell by 7,250 to 236,250. It was the third 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.

In total, 1,476,000 Americans were collecting jobless aid the week that ended Feb. 5, a decrease of about 112,000 from the previous week and the lowest level since March 14, 1970, the government said.

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A hiring sign is displayed outside of a retail store in Vernon Hills, Ill., Saturday, Nov. 13, 2021.

First-time applications for jobless aid generally track the pace of layoffs, which are back down to fairly healthy pre-pandemic levels.

Earlier this month, the Labor Department reported a surprising burst of hiring in January, with employers adding 467,000 jobs. It also revised upward its estimate for job gains in November and December by a combined 709,000. The unemployment rate edged up to a still-low 4% from 3.9%, as more people began looking for work, but not all of them securing jobs right away.


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