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New jobless claims fall from last week

The nation’s number of new weekly jobless claims fell from last week, according to new U.S. Department of Labor figures released Thursday morning.
The nation’s number of new weekly jobless claims fell from last week, according to new U.S. Department of Labor figures released Thursday morning.
By Tim Darnell
Updated Oct 22, 2020

The nation’s number of new weekly jobless claims fell from last week, according to new U.S. Department of Labor figures released Thursday morning.

According to the figures, 787,000 Americans filed new jobless claims last week, a decrease of 55,000 from the week before.

Jobless claims nonetheless remain elevated, with the coronavirus pandemic still impeding the economy seven months after it first erupted.

The still-high number of people seeking jobless benefits reflects an economy that has recovered only slightly more than half the 22 million jobs that were lost to the pandemic. Many Americans are enduring unemployment with vastly diminished aid since a $600-a-week federal benefit expired this summer.

The latest weekly report on jobless claims coincides with fading prospects for a new federal rescue aid package that economists say is urgently needed for unemployed workers and struggling businesses, states and cities. Congress remains at an impasse.

About the Author

Tim Darnell is an Atlanta native and veteran of several local, national, and international news, business and sports publications.

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