Claims for jobless benefits fall to 787,000, down 19,000

The number of Americans seeking unemployment benefits fell by 19,000 but remain elevated at 787,000 as a resurgent coronavirus grips the U.S. economy.

While at the lowest level in four weeks, the new figures released Thursday by the Labor Department are nearly four times higher than a year ago before the coronavirus struck. Employers continue to cut jobs as rising coronavirus infections keep many people at home while state and local governments re-impose restrictions.

Jobless claims were running around 225,000 a week before the pandemic struck with force last March causing weekly jobless claims to surge to a high of 6.9 million in late March as efforts to contain the virus sent the economy into a deep recession.

The government said that the total number of people receiving traditional unemployment benefits fell by 103,000 to 5.2 million for the week ending Dec. 19 compared to the previous week.

Source: https://www.politico.com/news/2020/12/31/claims-jobless-benefits-december-453006
Droolin’ Dog sniffed out this story and shared it with you.
The Article Was Written/Published By: Associated Press

! #Headlines, #BusinessNews, #Economy, #Employment, #Jobs, #Newsfeed, #Political, #Politico, #Trending, unemployment, #Coronavirus, #Health, #News