Economics
U.S. Jobless Claims Unexpectedly Jump to Highest in Three Months
- Figures reflect state business restrictions amid virus surge
- Continuing claims fall but Americans on extended benefits rise
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Applications for U.S. state unemployment benefits unexpectedly jumped to the highest level in three months, suggesting the labor market’s recovery is faltering amid the surge in Covid-19 cases and widening business restrictions.
Initial jobless claims in regular state programs rose by 23,000 to 885,000 in the week ended Dec. 12, Labor Department data showed Thursday. On an unadjusted basis, the figure fell by about 21,000.