Initial Jobless Claims Hit Five-Month High As Pandemic Depletes Labor Market Strength By Investing.com

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© Reuters

By Geoffrey Smith Investing.com – Initial claims for unemployment benefits rose last week to their highest level in five months as restrictive measures put in place across the country to stop the Covid-19 pandemic continued to take its toll on the market. U.S. Labor The Labor Department said 965,000 people showed up last week, up from 784,000 and well above the 795,000 expected. The number of ongoing claims also increased by some 200,000 to 5.27 million.

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