Business

U.S. jobless claims droop, with layoffs high

Unemployment claims drop to 793,000

A #x201c;now hiring#x201d; sign hangs outside a Harbor Freight Tools store in Manchester, N.H., in early December. (Asso
A “now hiring” sign hangs outside a Harbor Freight Tools store in Manchester, N.H., in early December. (Associated Press)

The number of Americans seeking unemployment benefits fell slightly last week to 793,000, evidence that job cuts remain high despite a substantial decline in new viral infections.

Last week’s total declined from 812,000 the previous week, the U.S. Department of Labor said Thursday. \

That figure was revised higher from the previously reported figure of 779,000.

Before the virus erupted in the United States in March, weekly applications for jobless aid had never topped 700,000 — even during the Great Recession.

The job market’s improvement slowed through the fall and in the past two months essentially has stalled.

Over the past two months combined, employers have cut 178,000 jobs.

Nearly 10 million jobs remain lost to the pandemic.

Though the unemployment rate fell in January to 6.3 percent, from 6.7 percent, that was mainly because many people who had lost jobs stopped looking for one.

The government doesn’t count people as unemployed unless they’re actively seeking work.

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