In the week ending January 9, the advance figure for seasonally adjusted initial claims was 965,000, an increase of 181,000 from the previous week's revised level. The previous week's level was revised down by 3,000 from 787,000 to 784,000. The 4-week moving average was 834,250, an increase of 18,250 from the previous week's revised average. The previous week's average was revised down by 2,750 from 818,750 to 816,000. The advance seasonally adjusted insured unemployment rate was 3.7 percent for the week ending January 2, an increase of 0.2 percentage point from the previous week's unrevised rate. The advance number ... (full story)

First-time claims for unemployment insurance jumped to 965,000 last week amid signs of a slowdown in hiring due to pandemic restrictions, the Labor Department reported Thursday. The total was worse than Wall Street estimates of 800,000 and above the previous week’s total of 784,000. Markets reacted little to the number, as the decline in economic activity is expected to be met with more stimulus from Washington. President-elect Joe Biden later Thursday is announcing his hopes for another package likely in excess of $1 trillion. Futures continued to indicate an opening gain on Wall Street. Still, the number for the ... (full story)