Jobless claims spike to 965,000 following Dem wins in Georgia

Jobless claims spike to 965,000 following Dem wins in
Georgia 1

Jobless claims spike to 965,000 following Dem wins in
Georgia 2

By Thomas Catenacci
Daily Caller News Foundation

The number of Americans filing new unemployment claims increased
to 965,000 last week as the economy continued to suffer the effects
of the ongoing coronavirus pandemic, according to the Department of

The Bureau of Labor and Statistics (BLS) figure released Thursday
represented a increase in the number of new jobless claims compared
to the week ending Jan. 9, in which there were 787,000 new jobless
. Roughly 18.4 million Americans continue to collect
unemployment benefits, according to the BLS report Thursday.

Economists expected Thursday’s jobless claims number to come
in around 800,000, The Wall Street Journal
. New jobless claims
below 1 million in the first week of August, which was the
first time the weekly claims had fallen below 1 million since

“It’s not a pretty picture,” Beth Ann Bovino, U.S. chief
economist for S&P Global Ratings, told The WSJ. “We’re
stuck at a level that’s four times where it should be.”

Investors have focused on the passage of the coronavirus relief
bill, according to
. At the end of December, Congress passed and President
Donald Trump
a $900 billion stimulus package, which included direct
payments of $600 and $320 billion in small business support.

The stock market has rallied at record levels since Georgia
Democratic candidates Jon Ossoff and Rev. Raphael Warnock
Republican incumbents Sens. David Perdue and Kelly
Loeffler on Jan. 5, according to

In a sign of slowing economic recovery, the U.S.
140,000 jobs in December, marking the first jobs loss
since April, according to the Department of Labor data released
Dec. 4. U.S. retail sales
by 1.1% in November even as holiday shopping began, a
Department of Commerce report
showed Dec. 16.

Jobless claims hovered around 200,000 per week before the
pandemic, according to
. President Donald Trump
a national emergency in March as coronavirus spread

around the world.

Average coronavirus cases and deaths per million have stayed
elevated for months, according to The COVID Tracking
. On Wednesday, the U.S. reported 4,022 new
coronavirus-related deaths and 219,090 new cases while 130,383
Americans remained hospitalized from the virus.

This story originally was published by the Daily Caller News

Content created by The Daily Caller News Foundation
is available without charge to any eligible news publisher that can
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original content, please contact
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Jobless claims spike to 965,000 following Dem wins in Georgia

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