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US jobless claims drop; still at 847,000 as pandemic rages

Unemployment
Posted at 5:38 AM, Jan 28, 2021
and last updated 2021-01-28 10:03:20-05

WASHINGTON (AP) — The number of Americans applying for unemployment benefits fell to a historically high 847,000 last week, a sign that layoffs remain high as the coronavirus pandemic continues to rage. The Labor Department said Thursday that last week’s claims were down by 67,000 from 914,000 the week before. Before the virus hit the United States hard last March, weekly applications for jobless aid had never topped 700,000. But the four-week moving average for claims, which smooths out weekly gyrations, rose to the highest level since September. Overall, nearly 4.8 million Americans are continuing to receive traditional state unemployment benefits.