The number of Americans seeking
unemployment aid fell slightly to 787,000,
evidence of a job market stumbling in the face
of the viral pandemic and the damage it has
inflicted on the economy for nearly 10 months.
Thursday’s figure from the Labor Department, a
slight decline from the previous week, showed
that many employers are still cutting jobs as the
pandemic tightens business restrictions and
leads anxious consumers to stay home.
At the same time, the number of people who are
receiving regular state unemployment aid fell
125,000 to 5.1 million. And fewer people were
on extended unemployment benefit programs.
On Friday, the government will likely issue a
gloomy jobs report for December. Economists
expect it to show that hiring slowed for a sixth
straight month — and possibly that employers
shed positions for the first time since the
job market collapsed in April just after the
pandemic erupted.
Unemployed Americans gained some urgently
needed help late last month when a $
billion rescue aid package was signed into
law. That measure provided a $300-a-week
federal jobless benefit on top of an average
state benefit of about $320. As many as half
the states are now distributing the federal
benefit, according to an unofficial tally at
UnemploymentPUA.com. In states that take
longer to pay out the $300 payments, any
missed payments can be made retroactively.
The federal extension of benefits was
lengthened to 24 weeks by the congressional
legislation. That program will remain in place
until mid-March. A separate program that