The Labor Department released its weekly statistics on Thursday. It showed another 965,000 workers filed for unemployment benefits in the week ending on January 9th. That's the highest number in several months. It shows that the unemployment situation will not get better until the Coronavirus is under control.
Here is the Labor Department's official statement:
In the week ending January 9, the advance figure for seasonally adjusted initial claims was 965,000, an increase of 181,000 from the previous week's revised level. The previous week's level was revised down by 3,000 from 787,000 to 784,000. The 4-week moving average was 834,250, an increase of 18,250 from the previous week's revised average. The previous week's average was revised down by 2,750 from 818,750 to 816,000.
