New applications for unemployment benefits edged lower and remained near historically low levels as the labor market stays tight following a decline in Covid-19 cases.
Initial jobless claims, a proxy for layoffs, fell by 18,000 to a seasonally-adjusted 215,000 for the week ended Feb. 26, down from the revised 233,000 the week before, the Labor Department said Thursday. The four-week average, which smooths out volatility, fell to 230,500.
