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The number of people applying for unemployment aid jumped last week to 853,
000, the most since September, evidence that companies are cutting more jobs
as new virus cases spiral higher.
The Labor Department said Thursday that the number of applications increased
from 716,000 the previous week. Before the coronavirus paralyzed the
economy in March, weekly jobless claims typically numbered only about 225,
000.
The latest figures coincide with a surging viral outbreak that appears to be
weakening the job market and the economy and threatening to derail any
recovery. Consumers thus far haven’t spent as much this holiday shopping
season as they have in previous years, according to credit and debit card
data. And in November, employers added jobs at the slowest pace since April.
Restaurants, bars and retailers all cut jobs last month. |
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