Applications for US jobless benefits fall again as labor market powers on

The number of Americans applying for jobless benefits fell to its lowest level in five weeks, even as more high-profile companies announce layoffs. Applications for unemployment benefits fell by 12,000 to 201,000 for the week ending Feb. 17, the Labor Department reported Thursday. In total, 1.86 million Americans were collecting jobless benefits during the week that ended Feb. 10, a cecrease of 27,000 from the previous week. Weekly unemployment claims are broadly viewed as representative of the number of U.S. layoffs in a given week. They have remained at historically low levels in recent years, despite efforts by the U.S. Federal Reserve to cool the economy.