Jobless claims rise but still historically low at 206,000

WASHINGTON » The number of Americans applying for unemployment benefits rose last week despite signs that the U.S. labor market is rebounding from last year’s coronavirus recession.

Jobless claims rose by 18,000 to a 206,000, still low by historical standards. The four-week average, which smooths out weekto-week volatility, fell by 16,000 to less than 204,000, the lowest level since midnovember 1969 when the American job market was less than half the size it is now, according Department of Labor figures released Thursday.

Altogether, 1.8 million Americans were receiving traditional jobless benefits the week that ended Dec. 4, down by 154,000 from the previous week.

Weekly claims, which are a proxy for layoffs, have fallen steadily most of the year since topping 900,000 one week in early January. They are now below to the 220,000-a-week level typical before the coronavirus pandemic slammed the U.S. economy in March 2020; COVID-19 forced consumers to stay home as health precaution and businesses to close or reduce hours and to lay off staff.

In March and April last year, employers shed a staggering 22.4 million jobs.

Since April last year, the United States has regained nearly 18.5 million jobs.