US applications for unemployment benefits fall again despite recent layoff announcements
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The number of Americans filing for jobless claims fell last week despite more layoff announcements from high-profile companies recently. Applications for unemployment benefits fell by 9,000 to 218,000 for the week ending Feb. 3. The four-week average of claims increased by 3,750 to 212,250. Weekly unemployment claims are seen as a proxy for the number of U.S. layoffs in a given week. The Federal Reserve raised its benchmark rate 11 times beginning in March of 2022 in an effort to bring down the four-decade high inflation. U.S. employers added 353,000 jobs in January, topping economists' predictions. Layoffs have increased recently across technology and media companies, including Google, Snap, and Verizon. In total, 1.87 million Americans were collecting jobless benefits during the week that ended Jan. 27, a decrease of 23,000 from the previous week.

#UnemploymentBenefits #JoblessClaims #Layoffs #Labor

https://apnews.com/article/unemployment-benefits-jobless-claims-layoffs-labor-cbb095de0d016fe9771f165e0b269fdc