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October 23, 2020

Jobless claims drop 6.5%, but layoffs remain high

  • The economy is still 10.7 million jobs short of its pre-pandemic level.
    • By CHRISTOPHER RUGABER
    AP Economics Writer

    WASHINGTON — The number of laid-off Americans seeking unemployment benefits fell last week to 787,000, a sign that job losses may have eased slightly but are still running at historically high levels.

    Last week's figure was down from 842,000 the previous week, the Labor Department said Thursday. The government also revised down the number of people who sought aid in the two weeks before that. The revised total for the week that ended Oct. 3 was 767,000, the fewest since the pandemic erupted in March, though still more than three times the levels that preceded the pandemic.


     
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