Jobless Claims Stay Near Historic Lows as Labor Market Continues to Thrive
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The number of Americans filing jobless claims last week was 209,000, largely staying at historic lows as the labor market continues to thrive.
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1.81 million Americans were collecting jobless benefits during the week ending March 2, up 17,000 from the previous week.
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Weekly claims are considered a proxy for U.S. layoffs and have stayed at historic lows since the 2020 pandemic job losses.
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The unemployment rate ticked up to 3.9% in February, the highest in 2 years, but still low historically, marking the 25th month below 4%.
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Though layoffs remain low, some companies like Google, eBay, TikTok, UPS and Macy’s have recently announced job cuts.