US jobless claims last week fell by the most in five weeks, Bloomberg reports. Initial jobless claims fell by 48,000 in the week ended Nov. 7 to a total of 709,000, which is below economists’ projections. The US labor market is showing a gradual recovery despite the recent surge in Covid-19 infections. However, Bloomberg noted the rebounding job market could face challenges in coming months amid the pandemic and colder weather.
Jobless claims down by the most in five weeks (Bloomberg)
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