Applications for jobless aid rise last week, but remain low

By MATT OTT
AP Business Writer

More Americans filed for jobless benefits last week, but layoffs remain historically low despite the Federal Reserve’s aggressive interest rate policy intended to cool the economy and bring down inflation. Applications for jobless aid in the U.S. for the week ending Feb. 4 rose by 13,000 last week to 196,000, from 183,000 the previous week, the Labor Department reported Thursday. It’s the fourth straight week claims were under 200,000. Jobless claims generally serve as a proxy for layoffs, which have been relatively low since the pandemic wiped out millions of jobs in the spring of 2020.