Business
Jobless claims surge to highest weekly total since August – CNBC
First-time jobless claims totaled 965,000 last week, the Labor Department said, well above the Dow Jones estimate of 800,000.
First-time claims for unemployment insurance jumped to 965,000 last week amid signs of a slowdown in hiring due to pandemic restrictions, the Labor Department reported Thursday.
The total was worse than Wall Street estimates of 800,000 and above the previous week’s total of 784,000.
Markets reacted little to the number, as the decline in economic activity is expected to be met with more stimulus from Washington. President-elect Joe Biden later Thursday is announcing his hopes for another package…
