Economy

Jobless claims show modest decline as Congress works on more stimulus

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Americans continued to hit the unemployment line in large numbers as the ongoing surge of Covid cases added to America’s unemployment problem last week.

Jobless claims totaled 900,000 for the week ended Jan. 16, the Labor Department reported Thursday. That was slightly less than the Dow Jones estimate of 925,000 and below the previous week’s downwardly revised total of 926,000.

Markets reacted little to the news amid continued anticipation that President Joe Biden and Congress will soon deliver another large fiscal infusion to help the economy through the pandemic. Stock futures pointed to a modest gain on Wall Street.

Continuing claims showed a slight decrease for the week, falling by…



Source cnbc.com

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