First-Time Jobless Claims Jumped to 965,000 Last Week

What Happened:

• According to a report released by the Labor Department on Thursday, 965,000 more Americans claimed first-time jobless benefits over the last week, the most since late August, 2020.

• Continued jobless claims also rose to 5.3 million, up around 200,000 from the previous week.

• Worsening pandemic infection numbers, increased layoffs and high unemployment rates are fueling concerns of a "double-dip" recession.

• Economists hope that the new $900 Billion Covid-19 Relief Package that was passed in December will provide some relief and steady the recovery.

Photo Source: Pixabay

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