U.S. Jobless Claims Rose Last Week In First Increase Since March Amid COVID Spike

deadline.com:

Jill Goldsmith Co-Business EditorNew U.S. jobless claims rose last week for the first time since March, sparking fears the economy is sputtering again as COVID-19 cases surge across the country and some reopened businesses shut down again.Some 1.416 million Americans filed for first-time unemployment benefits in the week ending July 18, up from 1.307 million the week before and above the 1.3 million expected.

It’s the  first increase in new claims on a week-over-week basis since March, showing a weakening trend in the labor market.In comparison, the same week the year earlier had 211,000 new claims.It was the 18th week running that new claims topped one million.