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  • The number of Americans filing new claims for unemployment benefits fell sharply last week to a seven month low.

  • The Labor Department said Thursday it declined more than expected to 709,000 from 757,000 in the prior week.

  • While that's down precipitously from its peak of nearly seven million in March, it's still well above the high hit during the great recession.

  • What's more, the pace of decline and jobless benefit filings has slowed, and the raging Cove in 19 pandemic and lack of additional fiscal stimulus could limit further improvement.

  • New Cove in 19 infections remained above 100,000 for an eighth straight day Wednesday, according to a Reuters tally.

  • Layoffs could accelerate as new cases explode across the country.

  • The government's $3 trillion in coronavirus relief, which helped the labor market improve over the summer, has run out.

  • That could make it tougher for the economy to produce enough jobs for the millions of unemployed Americans.

The number of Americans filing new claims for unemployment benefits fell sharply last week to a seven month low.

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B2 jobless labor cove labor market month fiscal

Jobless claims drop to seven-month low in U.S.

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    林宜悉 posted on 2020/11/12
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