U.S. Jobless Claims Decline by More Than Forecast Last Week
- Claims fell to 730,000 last week, lowest since November
- California, Ohio post biggest drops in unemployment benefits
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Applications for U.S. state unemployment benefits fell by more than forecast last week to the lowest since November, signaling that job cuts are starting to ebb as Covid-19 infections decline and vaccinations accelerate.
Initial jobless claims in regular state programs decreased by 111,000 to 730,000 in the week ended Feb. 20, Labor Department data showed Thursday. The prior week’s figures were revised down. On an unadjusted basis, claims fell by 131,734 to 710,313. Economists in a Bloomberg survey estimated 825,000 initial claims.