730k people filed for unemployment in the US last week, declining by 111k from the prior week. The tally marked the second consecutive weekly decline and the lowest point since November, but remained above the pre-coronavirus high of 695k (set in 1982) for the 49th consecutive week.
More context: Every week, the Department of Labor releases a report that includes “initial claims” for unemployment benefits, which is widely used as a barometer for layoffs. Access the full report here.
The New Paper
This story is from the February 25, 2021 edition of The New Paper – a clear, concise daily briefing that makes fact-first news easy to consume. Try it today.