U.S. jobless claims decline to a still-high 900,000
WASHINGTON — The number of Americans seeking unemployment benefits fell slightly last week to 900,000, still a historically high level. The Labor Department’s report Thursday said 5.1 million Americans are continuing to receive state jobless benefits, down from 5.2 million in the previous week. That suggests that while some of the unemployed are finding jobs, others are likely using up their state benefits and transitioning to separate extended-benefit programs.
More than 10 million people are receiving aid from those extended programs, which now offer up to 50 weeks of benefits, or from a new program that provides benefits to the self-employed. Altogether nearly 16 million people were on unemployment in the week that ended Jan. 2.
“Unemployment claims continue to show a job market unable to progress further as long as COVID-19 remains in the driver’s seat,” said Daniel Zhao, senior economist at Glassdoor. “While the vaccine offers a light at the end of the tunnel, we’re still far away from a complete reopening of the economy that could drive rehiring and stem further layoffs.”
