Rolling coverage of the latest economic and financial news
- Latest: UK car sales slump again in lockdown
- Introduction: Bond yield worries are back
- Deliveroo picks London for IPO
More Americans filed new claims for unemployment benefit last week, as the Covid-19 pandemic continued to hit workers.
There were 748,078 new ‘initial claims’ for unemployment support last week, an increase of 31,519 (or 4.4 percent) from the previous week, the Labor Department reports.
Unemployment Insurance Weekly Claims
Initial claims were 745,000 for the week ending 2/27 (+9,000).
Insured unemployment was 4,295,000 for the week ending 2/20 (-124,000).https://t.co/ys7Eg5LKAW
LAYOFF WATCH: Initial jobless claims climb 9,000 to 745,000 at the end of February. An additional 436,696 new claims filed through emergency federal program. Claims still disappointingly high, but data has also been erratic lately. Treat cautiously.
UI claims rose modestly to 1.18 million last week (748K UI initial claims NSA + 437K PUA claims).
Here’s another reason why the rise in US government bond yields is hitting share prices…