US unemployment claims rise after hitting pandemic low
ABC News
The number of Americans seeking unemployment benefits moved up last week to 332,000 from a pandemic low, a sign that worsening COVID-19 infections may have slightly increased layoffs
WASHINGTON -- The number of Americans seeking unemployment benefits moved up last week to 332,000 from a pandemic low, a sign that worsening COVID infections may have slightly increased layoffs.
Applications for jobless aid rose from 312,000 the week before, the Labor Department said Thursday. Jobless claims, which generally track the pace of layoffs, have fallen steadily for two months as many employers, struggling to fill jobs, have held onto their workers. Two weeks ago, jobless claims reached their lowest level since March 2020.
The increase was small and may be temporary. The four-week average of jobless claims, which smooths out fluctuations in the weekly data, dropped for the fifth straight week to just below 336,000, the lowest since the pandemic began.
Separately, the Commerce Department reported that retail sales unexpectedly rose 0.7% last month, a sign that Americans kept spending despite the rise in coronavirus cases. But how they spent continues to be altered by the pandemic. Online shopping jumped in August but spending at restaurant, bars and other businesses that rely on crowds, appear to have gone into a holding pattern.
