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  • the number of Americans seeking unemployment benefits fell below 800,000 last week for the first time since the pandemic hammered the US economy.

  • The Labor Department on Thursday said initial claims totaled 787,000.

  • But that number remains very high, indicating a slowing recovery and a struggling job market, and economists predict claims will remain high.

  • They point to the resurgence in new coronavirus cases sweeping the US, saying that could lead to restrictions by state and local governments.

  • More people may shine public venues such as restaurants and bars.

  • Jobless claims have dropped from the record 6.9 million in March, but they remain stuck above the peak during the great recession.

  • With funding from the mammoth rescue package earlier this year now depleted, transportation companies and other businesses are laying off or furloughing workers amid subdued demand.

the number of Americans seeking unemployment benefits fell below 800,000 last week for the first time since the pandemic hammered the US economy.

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B2 jobless remain hammered mammoth job market depleted

U.S. weekly jobless claims push lower; many exhausting their benefits

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    林宜悉 posted on 2020/10/24
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