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Weekly jobless claims surge to 853,000, highest since September

Photo: OLIVIER DOULIERY/AFP via Getty Images

About 853,000 Americans filed initial claims for unemployment insurance‌ last‌ week, up from 716,000 the week before and 123,000 more than economists had projected.

Why it matters: It's the highest number of new jobless claims since Sept. 19, per AP, and an indicator that labor market is heading in the wrong direction.

  • As of Nov. 21, more than 19 million Americans were still dependent on some type of unemployment aid.
  • The worrying trend comes as Congress remains deadlocked on stimulus negotiations.

Go deeper: The recovery needs rocket fuel

Go deeper

Courtenay Brown
Updated Jan 8, 2021 - Economy & Business

U.S. sheds 140,000 jobs in December, halting labor market recovery

Data: BLS; Chart: Axios Visuals

The U.S. economy shed 140,000 jobs in December, while the unemployment rate held at 6.7%, the government said on Friday.

Why it matters: The job market recovery that had been underway for the past seven months ended last month, buckling from the pressure of the coronavirus pandemic.

Go deeper (1 min. read)Arrow
Axios
Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Annelise Capossela/Axios

  1. Health: CDC director defends agency's response to pandemic — CDC warns highly transmissible coronavirus variant could become dominant in U.S. in March.
  2. Politics: Biden readies massive shifts in policy for his first days in office.
  3. Vaccine: Fauci: 100 million doses in 100 days is "absolutely" doable.
  4. Economy: Unemployment filings explode again.
  5. Tech: Kids' screen time sees a big increase.
  6. World: WHO team arrives in China to investigate pandemic origins.
Go deeper (1 min. read)Arrow
Dave Lawler, author of World
3 hours ago - World

Alexey Navalny detained after landing back in Moscow

Navalny and his wife shortly before he was detained. Photo: Kirill Kudryavtsev/AFP via Getty

Russian opposition leader Alexey Navalny was detained upon his return to Moscow on Sunday, which came five months after he was poisoned with the nerve agent Novichok. He returned despite being warned that he would be arrested.

The latest: Navalny was stopped at a customs checkpoint and led away alone by officers. He appeared to hug his wife goodbye, and his spokesman reports that his lawyer was not allowed to accompany him.

Go deeper (1 min. read)Arrow