Jobless Claims Drop to 712,000

Applications for U.S. state unemployment benefits fell by the most in almost two months, offering some hope that the gradual recovery in the job market will continue despite a spike in Covid-19 infections and renewed business restrictions.

Initial jobless claims in regular state programs decreased by 75,000 to 712,000 in the week ended Nov. 28, the first drop in three weeks, Labor Department data showed Thursday. Without adjustments for seasonal fluctuations, applications dropped by about 122,000 during the period.

Continuing claims -- the total pool of Americans on state unemployment...

Weekly initial claims fell by 75,000 after two consecutive increases as economy continues to recover from spring coronavirus shutdowns

New applications for unemployment benefits fell last week after a recent jump, an indication that layoffs are easing but remain high as the labor market continues to recover from the effects of the coronavirus pandemic and related restrictions.

Weekly initial claims for jobless benefits, a proxy for layoffs, fell by 75,000 to a seasonally adjusted 712,000 in the week ended Nov. 28, the Labor Department said Thursday. That follows two consecutive...