New weekly unemployment claims spiked far more than expected last week to reach a five-month high, as the coronavirus pandemic and stay-in-place orders weighed heavily on the labor market.
The U.S. Department of Labor released its weekly report on new jobless claims Thursday morning at 8:30 a.m. ET. Here were the main results in the report, compared to consensus estimates compiled by Bloomberg:
Initial jobless claims, week ended Jan. 9: 965,000 vs. 789,000 expected and a revised 784,000 during the prior week
Continuing claims, week ended Jan. 2: 5.271 million vs. 5.000 million expected and 5.072 million during the prior week