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US weekly jobless claims rise; COVID surge seen slowing labour market healing

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Washington: The number of Americans filing first-time claims for jobless benefits unexpectedly rose last week, likely as new business restrictions to control spiraling COVID-19 infections unleashed a fresh wave of layoffs, which could further slow the labour market recovery.The weekly unemployment claims report from the Labor Department on Thursday, the most timely data on the economy's health, also showed at least 20.3 million people on unemployment benefits at the end of October, seven months after the pandemic started in the United States.Millions will lose benefits next month when two government-funded programs expire.

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