Weekly Jobs Report: 853,000 total first time jobless claims
First time jobless claims jumped last week.
According to the Labor Department, first time claims total 853,000. That’s 100,000 more than the previous week and the highest number of claims since September 19th.
It’s much higher than analysts had been expecting though they had predicted an increase over last week’s numbers.
Continuing claims or the number of people claiming benefits for two weeks in a row or more also jumped by 230,000 to 5.76 million, that’s the first increase in that metric since late August.
These numbers reflect a job market that is continuing to struggle amid surges in coronavirus cases and some local government’s placing restrictions on some activity.