New filings for jobless benefits were little changed last week, the Labor Department reported Thursday, showing layoffs stabilized at an elevated level as virus cases surged in several states.
The number of people applying for jobless benefits has trended down in recent weeks, suggesting the pace of layoffs eased despite a resurgence in new coronavirus cases and the return of some economic restrictions.
Weekly claims for new unemployment benefits fell below 800,000 in October for the first time in seven months. While that level remains high by historic measures, it is down sharply from a peak of nearly seven million in late March, when states first introduced lockdowns in an effort to slow the spread of the virus.
The number of workers receiving ongoing unemployment benefits, known as continuing claims, is also trending at the lowest level since March, but has remained more than four times February’s weekly average in recent weeks.
