US weekly jobless claims rise more than expected to 853,000 as labor-market recovery slows

  • Date: 10-Dec-2020
  • Source: Business Insider
  • Sector:Healthcare
  • Country:Middle East
  • Who else needs to know?

US weekly jobless claims rise more than expected to 853,000 as labor-market recovery slows

New US jobless claims for the week that ended Saturday totaled 853,000, the Labor Department said Thursday. The reading came in above the consensus economist estimate of 725,000 and also marked an increase from the previous week's revised figure.

Continuing claims, which track Americans receiving unemployment benefits, posted a surprise gain to 5.8 million for the week that ended November 28.

Visit Business Insider's homepage for more stories.

The number of Americans filing for unemployment insurance rose more than anticipated last week as the US labor-market recovery showed signs of slowing.

New US weekly jobless claims totaled an unadjusted 853,000 for the week that ended Saturday, the Labor Department announced Thursday morning. Economists surveyed by Bloomberg expected 725,000 claims. The reading also marked an increase from the previous week's revised total of 716,000.

Continuing claims, which track the aggregate total of Americans receiving unemployment benefits, posted a surprise jump to 5.8 million for the week that ended November 28. That came in above economist estimates and is the first weekly increase since August.

Read more: Morgan Stanley is warning that the stock market's economic recovery trade may soon be over. Here are 4 strategies they recommend for finding the returns that still exist.

More than 70