Economics
U.S. Jobless Claims Post Surprise Drop, Shadowed by Virus Risks
- Illinois reported large decline in applications for benefits
- Recent stimulus package to help provide financial relief
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U.S. claims for unemployment benefits unexpectedly fell to a one-month low, though the recent increases in coronavirus cases and business closures threaten to keep layoffs elevated through early 2021.
Initial jobless claims in regular state programs declined by 19,000 to 787,000 in the week ended Dec. 26, according to a Labor Department report Thursday. That was less than the 835,000 median estimate in a Bloomberg survey of economists. The figures are often volatile around holidays and last week included Christmas. Without adjustments, claims dropped by 31,736.