Weekly First-Time Jobless Claims Surge to 853,000

Weekly First-Time Jobless Claims Surge to 853,000

Weekly First-Time Jobless Claims Surge to 853,000.

The number is much higher than the 730,000 economists had predicted.

This week’s report brings a substantial round of movement in the wrong direction.

It is evident the labor market is still in crisis, AnnElizabeth Konkel, economist at Indeed Hiring Lab, via NBC News.

The influx in nationwide coronavirus cases is slowing the ability to recover jobs.

Rising infections are restraining consumer spending on services and the economy still has 9 million fewer jobs than it did before the pandemic, Robard Williams, a senior vice president at Moody’s, via NBC News.

While we expect the labor market recovery to continue in 2021, new jobless claims remain high ... , Robard Williams, a senior vice president at Moody’s, via NBC News.

... as governments have reimposed lockdowns to control rising infection rates, particularly impacting businesses in the high-touch service sectors, Robard Williams, a senior vice president at Moody’s, via NBC News.

On Dec.

9, House Speaker Nancy Pelosi and Senate Minority Leader Chuck Schumer rejected Treasury Secretary Steven Mnuchin's $916 billion coronavirus relief proposal.

Millions of Americans are set to lose their unemployment benefits in a matter of weeks