An employment centre in San Francisco, US. Job gains have picked up as more businesses have gradually reopened and vaccine programmes accelerate. – REUTERSPIXNew applications for US unemployment benefits plunged last week to the lowest level since late November, according to government data released on Thursday, a hopeful sign for the jobs recovery.
First-time jobless claims fell by 111,000 in the week ended Feb 20, to 730,000, seasonally adjusted, the Labor Department reported. “The drop may be signalling a turning point for labour market conditions. However, the data continue to suffer from noise related to issues of backlogs and fraud,“ said Nancy Vanden Houten of Oxford Economics.
Job gains have picked up as more businesses have gradually reopened and vaccine programmes accelerate, with the US unemployment rate falling to 6.3% in January.
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