Lucas Jackson/Reuters
US stocks fell on Thursday as weekly jobless claims posted a surprise increase, signaling a slowdown in the economic recovery.
New US …
Lucas Jackson/Reuters US stocks fell on Thursday as weekly jobless claims posted a surprise increase, signaling a slowdown in the economic recovery. New US weekly jobless claims totaled 1.1 million in the week that ended on Saturday, the Labor Department reported on Thursday. That came in well above the consensus economist estimate of 920,000 compiled by Bloomberg and snapped a two-week streak of declines. „This is a temporary setback, as COVID-19 levels are still high but dropping, and re-openings continue, though at a slower pace given COVID-19’s surge in July,“ said Robert Frick, a corporate economist at Navy Federal Credit Union. „It underscores the economy is fighting in the trenches with COVID-19.
