The number of claims was much higher than the 800,000 that economists had expected. Before the coronavirus erupted in March, weekly jobless claims had typically numbered only about 225,000. The total number of people who are receiving traditional state unemployment benefits fell to 5.5 million from 5.8 million. It means that some jobless Americans are finding jobs and no longer receiving aid. weekly jobless claims continue to head in the wrong direction,″ Edward Moya, an analyst at the currency trading firm OANDA, wrote in a research note.

Source: The Standard December 17, 2020 14:15 UTC