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Bloomberg
Applications for US state unemployment insurance fell by more than forecast to the lowest level since the start of the year, as Covid-19 cases decline and restrictions ease.
Initial unemployment claims decreased by 18,000 to 215,000 in the week ended February 26, Labor Department data showed Thursday. The median estimate called for 225,000 applications in a Bloomberg survey of economists. Continuing claims for state benefits were little changed at 1.48 million in the week ended February 19.
The drop in claims is consistent with a strong labor market recovering from the omicron variant, which forced some businesses to close. The trend should continue as loosening Covid restrictions are likely to encourage Americans to go to work.