More Americans apply for jobless benefits last week

More Americans applied for jobless aid last week, but the total number of Americans collecting unemployment benefits is at a 53-year low.

Applications for unemployment benefits rose by 21,000 to 218,000 for the week ending May 14, the Labor Department reported Thursday. Firsttime applications generally track the number of layoffs.

The four-week average for claims, which smooths out some of the weekly volatility, rose 8,250 from the previous week to 199,500.

The total number of Americans collecting jobless benefits for the week ending May 7 fell again from the previous week, to 1,317,000. That’s the fewest since December 27, 1969.

American workers are enjoying historically strong job security two years after the coronavirus pandemic plunged the economy into a short but devastating recession. Weekly applications for unemployment aid have been consistently below the pre-pandemic level of 225,000 for most of 2022.