New claims for unemployment insurance remained elevated last week amid a surge in coronavirus cases, the government reported Thursday.
More than 743,000 workers filed new claims for state benefits last week, before adjusting for seasonal factors, an increase of 18,000 from the week before. With seasonal swings factored in, the latest figure was 742,000, also an increase from the previous week, the Labor Department said.
Claims had drifted lower in recent weeksbut remain far above the levels reached in previous recessions. What’s more, the coronavirus resurgence in much of the country in recent weeks has caused new restrictions on business activity, leading to more job cuts.
“The economy has made significant progress…
— to www.nytimes.com