Jobless claims climbed slightly last week, as demand for workers keeps a lid on layoffs and the economic recovery shows signs it is holding up during the latest Covid-19 surge.
Initial unemployment claims, a proxy for layoffs, rose by 16,000 to a seasonally adjusted 351,000 last week from a revised 335,000 the prior week, the Labor Department said Thursday. The four-week moving average for initial claims, which smooths out weekly volatility, declined slightly and remained at its lowest level since the Covid-19 crisis began last year.
