Economists warn new jobs data is a sign of worse things to come

The latest unemployment claims data rose again unexpectedly, with 742,000 Americans filing initial claims last week as coronavirus cases and deaths spiked around the country. The numbers were above what labor market observers expected and continuing claims also came in higher.

The numbers worry economists, even as good news about Pfizer and Moderna’s vaccine effectiveness in trials brought much-needed good news as daily COVID-19 cases top 170,000 and total deaths approach 250,000.

Ethan Wolff-Mann | Yahoo Finance

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