US weekly jobless claims fall to 779,000, below economist estimates - Business Insider

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US weekly jobless claims fall more than forecast to 779,000 as Biden stimulus efforts persist

US jobless claims reached 779,000 last week, down the previous week's revised total of 812,000.

Continuing claims, which track Americans receiving unemployment benefits, slipped to 4.6 million for the week that ended January 23. Economists expected continuing claims to hit 4.7 million.Biden's stimulus plan is heightening Wall Street's worries that inflation will upend the stock market. We spoke to 4 experts on what the raging debate means for investors, and how to take advantage of it.

The US labor market remains in a weakened state, but several signals suggest a more robust recovery can soon emerge. For one, Democrats have taken the first steps toward passing the sweeping stimulus proposal backed by President Joe Biden. The House on Wednesday approved a bill, a process that allows Democrats to pass stimulus with a simple majority and, in turn, skirting the need for any Republican support.

 

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need to go to pre pandemic level

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