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Unemployment claims dip below 800K for first time in months but numbers remain historically high

Unemployment claims dip below 800K for first time in months but numbers remain historically high
Posted at 5:46 AM, Oct 22, 2020
and last updated 2020-10-22 09:07:21-04

WASHINGTON — The number of Americans seeking unemployment benefits fell last week to 787,000, a sign that job losses may have eased slightly but are still running at historically high levels.

With confirmed infections having neared 60,000 in the past week, the highest level since July, many consumers have been unable or reluctant to shop, travel, dine out or congregate in crowds — a trend that has led some employers to keep cutting jobs.

Several states, such as Ohio and Idaho, are reporting a record number of hospitalizations from the virus.