Economy

Weekly jobless claims little changed despite signs of slower hiring

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First-time filings for unemployment insurance were little changed over the past week despite other indicators that the labor market weakened at the end of the 2020.

Weekly claims totaled 787,000 for the week ended Jan. 2, the Labor Department reported Thursday. That was less than the Dow Jones estimate of 815,000 and a slight decrease from the upwardly revised total of 790,000 for the previous week.

The report also showed a drop of 126,000 in continuing claims, taking the total down to 5.07 million. Those receiving benefits from all programs also fell, declining by 420,000 to 19.2 million.

Claims remain well above pre-pandemic levels as a continued surge in Covid-19 cases has caused…



Source cnbc.com

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