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- U.S. weekly jobless claims climb
U.S. weekly jobless claims climb
The data from the Labor Department revealed on Thursday the number of applications for unemployment benefits surged more than forecast last week as the coronavirus outbreak made the employers to start laying off workers.
According to the report, the initial claims for unemployment benefits jumped by 70,000 to a seasonally adjusted 281,000 for the week ended March 14. That was the highest level since September 2, 2017.
Economists had expected 220,000 new claims last week.
Claims for the prior week remained unchanged at 211,000.
Meanwhile, the four-week moving average of claims rose by 16,500 to 232,250, the highest level since January 27, 2018.
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