Source: NwoReport

The number of new applications for unemployment benefits fell by 16,000 last week to 223,000, more good news after a surprisingly strong January jobs report.

The numbers reported Thursday morning by the Labor Department are an encouraging sign for the country’s job growth. Weekly jobless claims are seen as a proxy for layoffs and have been watched closely in recent weeks for indications about how the omicron variant of COVID-19 has been affecting the labor market. They’re now back near where they were before the pandemic, when labor markets were tight.

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