Weekly jobless claims higher than expected as labor market takes hit from rising Covid cases

Weekly jobless claims higher than expected as labor market takes hit from rising Covid cases

PUBLISHED WED, NOV 25 20208:30 AM ESTUPDATED AN HOUR AGOJeff Cox@JEFF.COX.7528@JEFFCOXCNBCCOMKEY POINTS

  • Weekly jobless claims totaled 778,000 last week, higher than the 733,000 Dow Jones estimate.
  • That also was higher than the 742,000 from a week ago.
  • Continuing claims fell to just above 6 million though those losing benefits and filing emergency claims surged.

The pace of first-time filings for jobless claims picked up last week, with the jobs market showing increasing vulnerability to the coronavirus spread.close dialogStream live CNBC TV from around the world.START FREE TRIAL

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Claims totaled 778,000 for the week ended Nov. 21, ahead of the 733,000 expectation from economists surveyed by Dow Jones and up from 742,000 the previous week, the Labor Department reported Wednesday.

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Continuing claims for those collecting benefits for 

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