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US stocks edge towards new records after jobless claims fall more than expected
1 month ago | By Business Insider
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US stocks gained slightly on Thursday after falling jobless claims offered an encouraging sign of labor-market improvement.
New weekly claims for unemployment insurance totaled an unadjusted 712,000 for the week that ended Saturday. Economists surveyed by Bloomberg expected a reading of 775,000.
The mild uptick puts the S&P 500 at the brink of yet another record high. Stocks edged higher on Wednesday after Democrats embraced a bipartisan stimulus deal calling for $908 billion in relief funds.
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US jobless claims remain high at 712,000 as virus escalates
1 month ago | By Boston Herald
By PAUL WISEMAN
WASHINGTON - The number of Americans applying for unemployment benefits fell last week to a still-high 712,000, the latest sign that the U.S. economy and job market remain under stress from the intensified viral outbreak.
Thursday's report from the Labor Department said that initial claims for jobless aid dropped from 787,000 the week before. Before the virus paralyzed the economy in March, the number of people applying for unemployment benefits each week had typically amounted to roughly 225,000. The chronically high pace of applications shows that nearly nine months after...
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