By Noreen Burke
Investing.com – The number of Americans filing for first-time unemployment benefits has dropped to last week, but remained at levels indicating that the labor market recovery is losing momentum as the coronavirus pandemic persists.
Economists had forecast a decline to 860,000. The previous week's number has been reduced from the originally reported 898,000 to 842,000.
The number of ongoing claims that are reported with a one week delay from the original claims. The previous week's number has been revised to 9.397 million. Enduring entitlements are falling in part because many people have exhausted their entitlement to regular state benefits.
The report came amid talks in Washington about a stimulus agreement that cast doubt on whether negotiations would continue or be suspended until after the November 3 elections.
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