Another 742,000 Americans file new jobless claims, more than expected

The number of Americans filing new jobless claims has come in worse than expected, rising for the first time in several weeks.

The Labor Department on Thursday said 742,000 Americans filed first-time jobless claims last week, up 31,000 claims from the revised level for the previous week. This was the first time since the week of Oct. 10 that the number of new jobless claims increased, CNN reports.

The number was also more than experts forecasted, as economists were anticipating about 710,000 new claims for last week, CNBC reports. There were also 320,237 Pandemic Unemployment Assistance claims, an increase from the week prior, according to CNN.

The Week

Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

SUBSCRIBE & SAVE

Sign up for The Week's Free Newsletters

Join more than 350,000 subscribers and keep yourself informed with a selection of The Week’s most interesting, enlightening and entertaining stories - plus daily puzzles.

Join more than 350,000 subscribers and keep yourself informed with a selection of The Week’s most interesting, enlightening and entertaining stories - plus daily puzzles.

Sign up

This increase comes as COVID-19 cases rise around the country, prompting states to implement new restrictions. It also comes after a new analysis showed that roughly 12 million workers are set to lose unemployment benefits the day after Christmas, CBS News reports.

"The combination of record coronavirus cases and the post-holiday winter months will likely be a grim time for the labor market," Indeed Hiring Lab economist AnnElizabeth Konkel said, per NBC News. "To lose unemployment benefits right after the holidays will only ratchet up the economic pain already felt by millions."