Labor Dept Reports 898K Jobless Claims Last Week

CNBC reports:

American workers continued to hit the unemployment line in large numbers last week, with 898,000 new claims filed for jobless benefits. Economists surveyed by Dow Jones had been looking for 830,000. The total for the week ended Oct. 10 was the highest number since Aug. 22 and another sign that the labor market continues to struggle to get back to its pre-coronavirus pandemic mark.

Job postings are still down for occupations directly affected by the coronavirus, mostly tourism, travel and entertainment, according to data from Indeed.com — but the hiring services company has also seen a drop in postings for white-collar jobs, noting that hiring is “far below last year’s trend in many higher-wage office sectors like software development and banking and finance.”