New Jobless Claims Spike To 778,000 For Week

Bloomberg News reports:

Applications for U.S. state unemployment benefits unexpectedly jumped to the highest level in a month, underscoring a fragile labor market at risk of faltering as coronavirus cases soar.

Initial jobless claims in regular state programs increased by 30,000 to 778,000 in the week ended Nov. 21, according to Labor Department data Wednesday.

Without adjustments for seasonal fluctuations, the figure rose by about 78,000 during the week, which coincides with the reference period for the monthly jobs report.