Unemployment claims jump

WASHINGTON, D.C. (NBC) – Americans are still hitting the unemployment lines in large numbers. The Labor Department reports that 898,000 people filed for first-time unemployment claims last week. That was higher than analysts expected. This was the highest number of unemployment claims since August.

Analysts say this report indicates the labor market is having a hard time rebounding to pre-coronavirus levels.

Since the start of the pandemic, the economy has filled 11.4 million jobs, or about half of the jobs lost.

The unemployment rate has dropped to 7.9% percent but is still more than double its pre-pandemic level.

All of this comes as the standoff between lawmakers and the White House over a coronavirus stimulus has no end in sight.

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