Weekly US Jobless Claims Rise Unexpectedly As Stimulus Boost Fades

• The number of first-time filers for unemployment benefits was slightly higher than expected last week as the labor market continues its sluggish recovery from the coronavirus pandemic.
• The Labour Department reported Thursday that initial jobless claims for the week ending Sept. 19 came in at 870,000, adjusted for seasonal fluctuations. Economists polled by Dow Jones expected first-time claims at 850,000, down slightly from the previous week’s 860,000.
• Without the adjustment, about 825,000 people filed last week, up from the previous week’s 796,000. More than 6 million people a week filed during the peak of the layoffs in the spring, when Congress approved $600 a week in supplemental benefits. The supplemental benefits expired this summer.

(Source: CNBC)