Here are the Latest Jobless Claims Numbers
The number of Americans filing for unemployment benefits came in above expectations. On Thursday, the Labor Department reported that jobless claims totaled 793,000 last week. Economists polled by Dow Jones expected jobless claims to total 760,000. However, the number of jobless claims was lower than last week's count of 812,000.
Continuing claims, the number of individuals receiving unemployment benefits for consecutive weeks, fell by 145,000 to 4.54 million. Markets seemed to brush off that the actual number came in higher than expectations.
20.44 million Americans are still receiving benefits across all programs. That number has increased as individuals hope to receive boosts from the recently signed stimulus package and the expected stimulus package in the coming weeks.
“Job growth will remain soft for the next few months as the nation continues to struggle with the pandemic,” said Gus Faucher, chief economist at PNC Financial Services Group. “But job growth will pick up in the spring as vaccine distribution and better weather make people more willing to venture out, and stimulus efforts have given consumers more money to spend.”
Around 10 million workers are still unemployed.