New applications for unemployment benefits edged lower last week, remaining near historically low levels, reflecting a tight labor market as Covid-19 cases continued to decline.
Initial jobless claims, a proxy for layoffs, fell by 17,000 to a seasonally adjusted 232,000 for the week ended Feb. 19, down from the revised 249,000 the week before, the Labor Department said on Thursday. The four-week moving average, which smooths out volatility, also fell.
