U.S. Jobless Claims Rose to 898,000 Last Week

The number of new applications for unemployment benefits rose last week to the highest level since late August, as persistent layoffs hold back the economic recovery.

Claims increased to 898,000 last week, holding above the pre-pandemic high point of 695,000, according to Thursday’s Labor Department report. After steadily declining from a peak of near 7 million in March, claims have clocked in between 800,000 and 900,000 for more than a month as companies readjust their head counts.

“Given that we’re seven months into the pandemic now, these are still incredibly...