By Hannah Lang

Filings for unemployment benefits held nearly steady last week, a sign layoffs remain elevated amid other signs of slow labor-market improvement.

The Labor Department said jobless claims, a proxy for layoffs, rose slightly to 745,000 for the week ended Feb. 27, from a revised 736,000 the prior week. The four week moving-average, which smooths out week-to-week volatility in claims numbers, fell to its lowest level since early December.

Worker filings for jobless benefits remain elevated and higher than their pre-pandemic peak of 695,000, but have eased since the start of the year when they peaked at more than 900,000.

Write to Hannah Lang at hannah.lang@wsj.com

(END) Dow Jones Newswires

March 04, 2021 09:06 ET (14:06 GMT)