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Jobless claims unexpectedly rise to 898,000 in troubling sign for recovery

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mystery-ak:
Jobless claims unexpectedly rise to 898,000 in troubling sign for recovery
by Jay Heflin, Business Editor |
 | October 15, 2020 08:31 AM

The number of new applications for unemployment benefits rose to 898,000 last week, the Labor Department reported on Thursday.

Forecasters had projected 825,000 new jobless claims.

In addition to claims for regular benefits, more than 370,000 workers filed new claims for the Pandemic Unemployment Assistance program, which provides for unemployment insurance for people sidelined by the epidemic who normally wouldn't be eligible for regular benefits, such as gig workers whose business dried up. Combining both regular and PUA claims, roughly 1.3 million jobless workers filed for relief last week.

There is also the Pandemic Emergency Unemployment Compensation program that extends unemployment benefits for an additional 13 weeks. For the week ending, Sept. 26 over 2.7 million jobless workers were receiving this benefit.

more
https://www.washingtonexaminer.com/news/jobless-claims-hit-898-000-as-applications-barely-budge-for-seventh-straight-week

catfish1957:
Now is not the time to have these bad economic news tidbits.  Add the (valid or not) surge of COVID-19 cases, and it just seems Trump can not catch a break. 

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