New York (CNN Business) Claims for unemployment benefits inched lower last week, the Department of Labor said Thursday. Last week, 787,000 workers claimed first-time benefits on a seasonally adjusted basis. Last week marked the first time jobless claims fell below 800,000 since mid-March. Pandemic Unemployment Assistance, which Congress created as part of the CARES Act in the spring, provides benefits for the self-employed and gig workers. Adding these first-time claims together, initial applications for benefits stood at 1.1 million last week without seasonal adjustments.

Source: CNN October 22, 2020 12:36 UTC