JANUARY 25, 2021 – UNEMPLOYMENT REMAINS HIGH
Jobless claims last week were reported at 900,000, according to the Labor Department. The number is high, but below the 925,000 expected and down from the previous week’s total of 926,000. Weekly jobless claims have been floating just below 1 million since September. Continuing claims for the week decreased slightly, falling by 127,000 to 5.05 million.
The total number of Americans receiving unemployment benefits is declining, but it is largely due to the end of pandemic-related programs that have ended. Markets are anticipating another large fiscal infusion from President Biden and Congress.