First-time jobless claims rose to 840,000 last week vs 825,000 estimated – By Lucy Bayly (NBC News) / Oct 8 2020
Women and minorities, two groups that are over-represented in the service industries, remain the most heavily affected by the country’s sweeping layoffs.
The number of people who filed for first-time unemployment benefits reached 840,000 last week, according to data released Thursday by the Department of Labor. Economists surveyed by Dow Jones had forecast claims would fall to 825,000.
While initial claims have held steady for the past six weeks, they remain at historically elevated levels.
“New claims appear to have settled into a still historically high pattern, numbering in the 800,000 range since late August,” said Mark Hamrick, senior economic analyst at Bankrate. “The intermediate-term outlook remains quite concerning for several reasons, although we remain hopeful that the eventual availability of effective and safe vaccines will get us to a better place on a number of fronts.”
Women and minorities, two groups that are over-represented in the service industries, remain the most heavily affected by the country’s sweeping layoffs.
Continue to article: https://www.nbcnews.com/business/economy/first-time-jobless-claims-rose-840-000-last-week-v-n1242591
