Jobless Claims , Show Surprise Increase to 412,000.
The Labor Department's unadjusted data
was released on Thursday.
It showed an uptick of nearly
37,000 first-time unemployment claims
from 375,000 the previous week.
The two states that accounted for the majority of the increase were California, with 15,712 added claims.
and Pennsylvania, with 21,590 added claims.
Factors related to the pandemic, such as caregiving needs, ongoing fears of the virus, and unemployment insurance payments appear to be weighing on employment growth, Jerome Powell, Former Fed Chairman, via CNBC.
These factors should wane in coming months against a backdrop of rising vaccinations leading to more rapid gains in employment, Jerome Powell, Former Fed Chairman, via CNBC.
The total number of those who applied for
jobless benefits last week, including continuing claims,
did fall by close to 500,000.
Many states have already halted or added more
qualifications for pandemic-related assistance,
which likely contributed to the overall decrease