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US Jobless Claims Tick up to 745,000 as Layoffs Remain High

March 4, 2021

WASHINGTON—The number of Americans applying for unemployment benefits edged higher last week to 745,000, a sign that many employers continue to cut jobs despite a drop in confirmed viral infections and evidence that the overall economy is improving. Thursday’s report from the Labor Department showed that jobless claims rose by 9,000 from the previous week. Though the pace of layoffs has eased since the year began, they remain high by historical standards. Before lockdowns flattened the U.S. economy a year ago, applications for unemployment aid had never topped 700,000 in any week, even during the Great Recession. All told, 4.3 million Americans are receiving traditional state unemployment benefits. Counting supplemental federal unemployment programs that were established to soften the economic damage from the lockdowns, an estimated 18 million people are collecting some form of jobless aid. In Texas, applications for benefits surged by nearly 18,000 in Texas in the aftermath … Read More

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