New US jobless claims rise sharply to 898,000 last week

Washington (AFP) – New applications for US jobless benefits unexpectedly rose last week to 898,000, the Labor Department said on Thursday.The 53,000 increase from the prior week was the sharpest rise in seasonally adjusted initial claims since the week of August 15, as the United States attempts to recover from mass layoffs caused by business shutdowns earlier this year to stop Covid-19.The jump brought the levels of initial claims back to where they were in late August, and remained above the single worst week of the 2008-2010 global financial crisis, the last economic downturn.Another 372,89…

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