WASHINGTON : The number of Americans seeking unemployment benefits fell sharply last week but remained high by historical standards. Applications for benefits declined 111,000 from the previous week to a seasonally adjusted 730,000, the Labor Department said Thursday. Still, before the virus erupted in the United States last March, weekly applications for unemployment benefits had never topped 700,000, even during the Great Recession of 2008-2009. All told, 19 million people were receiving unemployment aid as of Feb. 6, up from 18.3 million the previous week. Retail sales soared last month as many Americans spent the $600 checks that were included in a relief package enacted in December.

Source: Mint February 25, 2021 14:26 UTC