Jobless claims were still high last week but showed a decline from the week prior.

On Thursday, the Labor Department reported jobless claims totaled 900,000 for the week ending January 16. Economists polled by Dow Jones estimated jobless claims would come in around 925,000.

President Joe Biden and Congress are working on another stimulus package that will help the economy recover from the pandemic. Continuing claims decreased slightly to 5.05 million. Hotels, bars, restaurants, and casino workers had been hit the worst.

The data also showed that the number of individuals receiving unemployment benefits fell from 18.4 million to 16 million.

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Economics, Finance and Investing