New US jobless claims drop to 787,000 as stimulus talks stall

Washington (AFP) – New claims for US jobless benefits fell to 787,000 last week, the Labor Department said Thursday, as congressional negotiations over a new economic stimulus package lost momentum. The big improvement brought claims below 800,000 for the second time since the pandemic started, with new seasonally adjusted applications falling 55,000 in the week ended October 17 and the previous week’s data revised down by 56,000.But the weekly claims remain well above the single worst week of the 2008-2010 global financial crisis after businesses shutdowns beginning in March to stop Covid-19 …

Read More

HEDGE accordingly