The number of Americans who filed for unemployment benefits for the first time rose less than expected last week as the Biden administration took the reins of the COVID vaccine rollout and employers hoped for additional financial support from Congress.
Jobless claims totaled 847,000 for the week, the Labor Department reported Thursday. Economists polled by Dow Jones had expected first-time claims to total 875,000. The previous week’s level was revised up by 14,000 from 900,000 to 914,000.
Continuing claims showed a decrease, falling by 203,000 to 4.8 million, a new pandemic-era low. Slightly more than 5 million continuing claims were expected. U.S. stock futures turned higher ahead of Wall Street’s opening bell.
Click here to see the full report from Thomas Franck at CNBC.com.