The number of Americans filing for unemployment benefits unexpectedly rose last week for the first time in nearly four months, suggesting the labor market was stalling amid a resurgence in new COVID-19 cases and depressed demand. The weekly jobless claims report from the Labor Department on Thursday, the most timely data on the economy’s health, also showed nearly 32 million people were collecting unemployment checks in early July. Relentless labor market weakness puts pressure on the U.S. Congress to extend a $600 weekly jobless benefit supplement, which expires on July 31. …read more
Source:: Yahoo Finance
