That marked a couple of milestones for the jobs picture: It was the first time claims were below 700,000 during the Covid-19 era and the first time the level was below the pre-pandemic high dating back to October 1982.
While the layoff level is still well above the average before the coronavirus struck, continuing claims also fell again, to a new pandemic-era low of 3.87 million.
—Jeff Cox
Lowe’s, Home Depot seek to stretch pandemic gains into spring
A customer pushes a shopping cart towards the entrance of a Lowe’s store in Concord, California, on Tuesday, Feb. 23, 2021.
David Paul Morris | Bloomberg | Getty Images
As home improvement’s busiest sales season begins, Lowe’s and Home Depot want to stretch their pandemic gains into the spring. Both retailers have extended their sales events and plan to cater to customers who are using their homes in different ways.
Lowe’s has added a wider variety of merchandise on its website, from tents and cocktail shakers to exercise bikes. It’s also encouraging customers to tackle DIY projects or decorate rooms — or the backyard — for a “hometrip” as they put off travel plans.
The two retailers have had strong, pandemic-fueled runs, but have cautioned that they may not be able to keep up the pace of growth. Home Depot declined to provide a forecast for the year. Lowe’s said its net sales for the year will likely decline by 5% to 7%, even in a favorable market.
Both retailers’ shares have touched all-time highs this week. Along with pandemic trends, they have a hot real estate market and the growth of remote work in their favor for now, too.
—Melissa Repko
EU and Britain try to broker a vaccine supply deal
Shortly after European Union officials announced stricter rules on Covid vaccine exports, the bloc is trying to resolve a dispute over vaccine supplies with the U.K., reports CNBC’s Silvia Amaro.
Since the end of January, more than 10 million doses produced in the EU have gone to the U.K., but the U.K. had exported none in return, the EU has complained.
“We are all facing the same pandemic and the third wave makes cooperation between the EU and UK even more important. We have been discussing what more we can do to ensure a reciprocally beneficial relationship between the UK and EU on Covid-19,” the U.K. government and the European Commission said in a joint statement on Wednesday.
“Given our interdependencies, we are working on specific steps we can take — in the short-, medium- and long term — to create a win-win situation and expand vaccine supply for all our citizens,” the U.K. and EU said, adding that talks would continue.
—Melodie Warner
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