Thursday 24 September 2020 1:44 pm Richard Flynn, UK managing director at Charles Schwab, said that the level of weakness in the labour market remained “unprecedented”. In recent days the attention of lawmakers has been grabbed by the battle to name a new Supreme Court justice after the death of Ruth Bader Ginsberg last weekend. Although the figure is far lower than when coronavirus first forced states and businesses into lockdown, it is still far higher than at any point before the pandemic. As parts of the economy began to reopen over the summer, the unemployment rate in the US has come down to 8.7 per cent. In contrast, the highest weekly jobless claims figure during the 2008-2009 financial crisis was 665,000. “Despite some encouraging numbers in recent weeks, the level of weakness remains unprecedented, and the labour market’s recovery will likely rely on further fiscal support from the government.” “This week’s rise in initial jobless claims will come as a surprise to the market, after last week’s promising data. whatsapp The number of Americans making new claims for unemployment benefits rose slightly last week amid worrying signs that the economic recovery was stalling. Also Read: US jobless claims rise as economic recovery stalls Share by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikePast Factory”Waltons” Actress Says Magazine Ended Her CareerPast FactoryUndoDaily FunnyFemale Athlete Fails You Can’t Look Away FromDaily FunnyUndoNoteableyJulia Robert’s Daughter Turns 16 And Looks Just Like Her MomNoteableyUndobonvoyaged.comThese Celebs Are Complete Jerks In Real Life.bonvoyaged.comUndoJustPerfact USAMan Decides to File for Divorce After Taking a Closer Look at This Photo! JustPerfact USAUndoOne-N-Done | 7-Minute Workout7 Minutes a Day To a Flat Stomach By Using This 1 Easy ExerciseOne-N-Done | 7-Minute WorkoutUndoZen HeraldEllen Got A Little Too Personal With Blake Shelton, So He Said ThisZen HeraldUndoFinanceChatterViewers Had To Look Away When This Happened On Live TVFinanceChatterUndoBeach RaiderMom Belly Keeps Growing, Doctor Sees Scan And Calls CopsBeach RaiderUndo More From Our Partners Matt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comMark Eaton, former NBA All-Star, dead at 64nypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.comWhy people are finding dryer sheets in their mailboxesnypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.com Edward Thicknesse whatsapp The rise came as a shock to economists, who had forecast a fall to 840,000 benefit claims. US jobless claims rise as economic recovery stalls Show Comments ▼ Also Read: US jobless claims rise as economic recovery stalls At their peak in March, weekly jobless claims hit an astonishing 6.9m, with the unemployment rate soaring to 14.7 per cent in April. There were 870,000 jobless claims last week, up from 866,000 for the week ending 12 September, according to figures from the US Labor Department. Before the Open newsletter: Start your day with the City View podcast and key market data However, Congress is still locked in a dispute over a new package of emergency benefits to support unemployment, with its original $2 trillion economic stimulus needing bolstering. A $600 weekly unemployment benefits supplement ended in July and was replaced with a $300 weekly subsidy, whose funding is already running out.