BUSINESS US reports worse-than-expected jobless claims data

BUSINESS

US reports worse-than-expected jobless claims data

Xinhua

14:24, November 27, 2020

The number of jobless claims in the United States exceeded economists' expectations for the week ended Nov. 21, as the jobs market continues to sustain pressure from the COVID-19 pandemic and relevant social-distancing rules.

Pedestrians wearing face masks are seen in a street in the Brooklyn borough of New York, the United States, on April 3, 2020. (Photo by Michael Nagle/Xinhua)

Claims totaled 778,000 for the week ended Nov. 21, more than the 733,000 expectation from economists surveyed by Dow Jones and up from 742,000 the previous week, the Labor Department reported Wednesday.

Continuing claims for those collecting benefits for at least two weeks maintained their decline, falling by 299,000 to 6.07 million.

The worse-than-expected jobless claims came amid resurging COVID-19 pandemic, when the national healthcare system continues to be strained from the flooding infected patients. Conditions seem to be heading even worse with the Thanksgiving gatherings probably sending the spreading speed to a higher level as people travel across the country for family gatherings and celebrations.

The United States has, by Thursday afternoon, recorded more than 12.86 million cases and over 263,200 deaths, both the highest in the world, according to the real-time count kept by Johns Hopkins University.

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