Labor Dept Reports 787K New Jobless Claims For Week

The New York Times reports:

The government reported on Thursday that 757,000 workers filed new claims for state unemployment benefits last week, a drop of 73,000 from the previous week but still a stubbornly high rate as the incipient economic recovery struggles to maintain a foothold.

Another 345,000 new claims were filed under a federal jobless program that provides benefits to freelancers, part-time workers and others during the pandemic. Neither figure is seasonally adjusted. On a seasonally adjusted basis, new state claims totaled 787,000.

The latest evidence of continuing stress in the labor market comes as coronavirus cases are again surging in the United States and as a second round of federal relief faces opposition from Senate Republicans over a possible $2 trillion price tag.

Another 787,000 Americans filed jobless claims last week, a still-elevated number seven months after the pandemic first erupted. https://t.co/pKMdVYnn9z

— The Boston Globe (@BostonGlobe) October 22, 2020