US Initial Jobless Claims Rise Last Week

The number of United Sates citizens applying for unemployment benefits increased last week, against market expectations, data showed on Thursday.

This comes as the increasing number of Coronavirus cases in the states is affecting the market negatively.

Initial claims for jobless benefits rose by 31,000 to a seasonally adjusted 742,000 for the week ended November 14.

Meanwhile, around 20.3 million people are currently on unemployment benefits by the end of October, according to the weekly unemployment claims report by the US Department of Labor.