The Labor Department’s report Wednesday said jobless claims climbed from 748,000 the week before.
The figures coincide with a sharp resurgence in confirmed viral infections to an all-time high above 120,000 a day.
Eight months after the pandemic flattened the economy, weekly jobless claims still point to a stream of layoffs.
But rising confirmed virus cases in nearly every state, along with a cutoff in federal aid, are threatening to weaken the economy.
Expiring federal and state relief benefits are taking billions of dollars a week out of the economy.
The number of Americans seeking unemployment benefits fell last week to 787,000, a sign that job losses may have eased slightly but are still running at historically high levels. With confirmed infections having neared 60,000 in the past week, the highest level since July, many consumers have been unable or reluctant to shop, travel, dine […]
The latest sign of a flagging recovery comes two days after President Donald Trump cut off talks over a new rescue aid package.
The Labor Department’s report suggests that companies are still cutting a historically high number of jobs.