There were 742,000 new unemployment claims reported. This is an increase of about 18,000 over last week’s report. This is the first increase in new claims in over a month.
The number of people collecting unemployment week over week fell.
We can see from these numbers that people continue to lose their jobs at a record pace. But hiring is still outpacing job losses.
The markets were lower ahead of the open. At writing, the Dow and the S&P 500 continue to trade in the red. The tech-heavy Nasdaq has moved into positive territory.
Today, markets appear to be pausing to weigh the mixed news.
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