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