Labor Dept Reports 803K New Jobless Claims For Week

The Wall Street Journal reports:

U.S. jobless claims fell to 803,000 last week, a retreat from a three-month high amid broader signs of a slowing economic recovery.

The latest data came as states and local municipalities impose fresh restrictions on social and business activity to combat a surge in coronavirus cases.

Other parts of the economy have shown signs of losing momentum as coronavirus cases have risen and businesses and consumers grapple with renewed restrictions.

Weekly US jobless claims decline to still-high 803,000 as layoffs remain elevated, and consumer spending fell 0.4% in November – its first setback since April, as Americans confront resurgent coronavirus.https://t.co/2JYM20KEPK

— The Associated Press (@AP) December 23, 2020