The number of Americans seeking unemployment benefits fell by 19,000 but remains elevated at 787,000 as a coronavirus resurgence grips the U.S. economy.
While at the lowest level in four weeks, the new figures released this morning by the Labor Department are nearly four times higher than a year ago before the coronavirus struck. Employers continue to cut jobs as rising coronavirus infections keep many people at home while state and local governments reimpose restrictions.
Jobless claims were running around 225,000 a week before the pandemic struck with force last March causing weekly jobless claims to surge to a high of 6.9 million in late March as efforts to contain the virus sent the economy into a deep recession.
The government said that the total number of people receiving traditional unemployment benefits fell to 5.2 million for the week ending Dec. 19, a drop of 103,000 compared to the previous week.