Weekly jobless claims increase while continuing claims decrease

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  • First-time filings for unemployment benefits totaled 742,000 last week vs. the Wall Street estimate of 710,000.
  • Continuing claims fell by 429,000 to 6.37 million, a fresh pandemic-era low.
  • The total of those receiving benefits declined by more than 8000,000 but still remains extremely elevated.

The road ahead for the jobs market is unclear amid rising coronavirus cases. Economists worry that increased restrictions on activity could push the jobless level back up again.

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