The Associated Press reports that New claims for jobless benefits fell for the third straight week but remain elevated, suggesting the labor market is still sluggish.
New claims fell by 3,000 to a seasonally adjusted 456,000, the Labor Department said Thursday. That’s nearly the same level as in January.
At the same time, the tally of laid-off workers continuing to claim jobless benefits fell by the largest amount in almost a year. That could be because more people are finding work. But it may simply mean that they have exhausted their initial state benefits and have transitioned to extended federal benefits.
A Labor Department analyst said state agencies didn’t provide any explanation for the drop.
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