Jobless Claims Unexpectedly Jump As $242 Billion Hits Bank Accounts

Jobless Claims Unexpectedly Jump As $242 Billion Hits Bank Accounts

770,000 Americans filed for unemployment benefits last week, far more than anticipated. The uptick comes on the heels of an encouraging decline to 712,000 the previous week. That figure was revised up to 725,000 in the latest release. The market was looking for 700,000 on Thursday, so the headline looked to be a disappointment, although not a disaster. The four-week moving average fell to 746,250. This is a reminder that progress notwithstanding, the US labor market remains deeply depresse
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