Economics
U.S. Jobless Claims Hit Highest Since August in Unexpected Jump
- Continuing claims drop but more people move to long-term aid
- California’s figures remain frozen amid state’s backlog
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Applications for U.S. state unemployment benefits unexpectedly jumped last week to the highest since August and Americans increasingly moved to longer-term jobless aid.
Both are troubling signs for a labor market whose recovery from the pandemic was already slowing.