US jobless claims drop

Agence France-Presse . Washington | Published: 00:37, Dec 24,2020


New applications for US jobless benefits fell by 89,000 last week after two weeks of increases but remain high as COVID-19 cases have spiked, according to government data Thursday.

Applications fell to 8,03,000 in the week ended December 19 from an upwardly-revised 8,92,000 in the prior week, according to the seasonally-adjusted Labour Department data.

That was far below the level economists had been expecting, although analysts warn that the reports can be erratic due to seasonal adjustment errors around the holidays. New claims for special pandemic jobless benefits — which are set to expire in days — fell by nearly 57,000 to 3,97,511, without seasonal adjustment.

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