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Elevated Jobless Claims Reflect Cooling Labor Market

by Bioreports
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The number of people applying for jobless aid is expected to have held nearly steady for the eighth straight week, a sign that the summer’s rapid labor market improvement cooled dramatically this fall.

Weekly initial claims for unemployment benefits through regular state programs have stabilized between 800,000 and 900,000 since the last week of August, as fresh layoffs offset employment gains. That level remains elevated above pre-pandemic peaks but is down significantly from March, when the coronavirus pandemic and related…

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