A now hiring sign is seen in the window of a fast-food restaurant in Orange California on January 27, 2021. The Labor Department said first-time unemployment filings dropped last week and the total number of people filing for benefits reached a 52-year low.
File Photo by Jim Ruymen/UPI | License Photo
Feb. 24 (UPI) -- First-time unemployment claims fell last week, and overall filings dipped to their lowest level in 52 years, the Labor Department reported Thursday.
The department had reported three straight weeks of initial unemployment claim decreases until the week ending Feb. 12, when filings increased to a seasonally adjusted 249,000. Last week, claims dropped to 232,000.
While the jobless claims marked a decrease of 17,000, the total was still higher than the 225,000 unemployment filings reported on Feb. 5. It also remained off the pandemic low of 188,000 reported on Dec. 4.
The overall number of people filing for unemployment benefits for Feb. 12 was 1.476 million, a decrease of 112,000 from the previous week. That marked the lowest overall total of people filing for unemployment insurance since March 14, 1970, when the level was 1.456 million.
The four-week moving average for total claims also fell to 1.576 million, its lowest amount since June 30, 1973, when it hovered at 1.57 million applicants.
The four-week moving average for first-time unemployment filings for the week ending Feb. 12 filings decreased 7,250 to 236,250. The filings reported last week were adjusted to 243,500, the report said.
The actual unadjusted initial claims under state programs totaled 214,873 in the week ending Feb. 19, a decrease of 24,824 or 10.4%, from the previous week. Seasonal factors had expected a decrease of 7,928, or 3.3%, from the previous week.
Feb. 24 (UPI) -- First-time unemployment claims fell last week, and overall filings dipped to their lowest level in 52 years, the Labor Department reported Thursday.
The department had reported three straight weeks of initial unemployment claim decreases until the week ending Feb. 12, when filings increased to a seasonally adjusted 249,000. Last week, claims dropped to 232,000.
While the jobless claims marked a decrease of 17,000, the total was still higher than the 225,000 unemployment filings reported on Feb. 5. It also remained off the pandemic low of 188,000 reported on Dec. 4.
The overall number of people filing for unemployment benefits for Feb. 12 was 1.476 million, a decrease of 112,000 from the previous week. That marked the lowest overall total of people filing for unemployment insurance since March 14, 1970, when the level was 1.456 million.
The four-week moving average for total claims also fell to 1.576 million, its lowest amount since June 30, 1973, when it hovered at 1.57 million applicants.
The four-week moving average for first-time unemployment filings for the week ending Feb. 12 filings decreased 7,250 to 236,250. The filings reported last week were adjusted to 243,500, the report said.
The actual unadjusted initial claims under state programs totaled 214,873 in the week ending Feb. 19, a decrease of 24,824 or 10.4%, from the previous week. Seasonal factors had expected a decrease of 7,928, or 3.3%, from the previous week.
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