2.9M workers still on jobless benefits as weekly claims remain high

More than 2.9 million Americans are still on traditional state unemployment benefits as the number of people seeking weekly new claims appear to have settled at a level higher than previously hoped, the feds said Thursday.

Continuing claims fell by 366,000 from just over 3.26 million the week before, according to data released Thursday by the Labor Department. That figure stood at almost 16 million at the same time last year, in the thick of the pandemic. Continuing claims have fallen significantly since peaks seen in 2020, but the figure remains about twice as high as pre-pandemic levels.