New York (CNN Business) Another 787,000 Americans filed first-time claims for jobless benefits during the Christmas week, factoring in seasonal adjustments, the Labor Department reported Thursday. Overall, unemployment claims remain elevated well above historic norms, signaling ongoing pain in the job market during the coronavirus pandemic. The holidays and uncertainty about the extension of benefits in the New Year may have held down claims last week, according to Nancy Vanden Houten, lead US economist at Oxford Economics. In addition to regular jobless claims, another 308,262 workers filed for aid under the Pandemic Unemployment Assistance program, which provides benefits to people who aren't eligible for regular state aid, such as the self-employed and gig workers. Together, 1.1 million Americans filed initial claims for unemployment benefits, not adjusted for seasonal swings.

Source: CNN December 31, 2020 13:35 UTC