US initial jobless claims continue to rise as Covid-19 infections surge
In a separate report, the commerce department says GDP grew at a 33.1% annualised rate in third-quarter
25 November 2020 - 20:23
Washington — The number of Americans filing first-time claims for jobless benefits rose again last week, suggesting that a rapid rise in new Covid-19 infections and business restrictions were causing more layoffs and undermining the labour market recovery.
Other data on Wednesday showed business spending on capital remained solid at the start of the fourth quarter, though momentum has cooled from the prior months. The economy is shifting into slower gear as the boost from more than $3-trillion in government coronavirus relief ends...
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