UNEMPLOYMENT CLAIMS UP

In the week ending 10 October, 898,000 workers filed new claims for unemployment benefits, more than the 830,000 expected by economists surveyed by Dow Jones.
The tally was the highest in seven weeks, indicating employers are still shedding jobs in high numbers, with some bracing for a second virus wave to crimp the economy in the months ahead, analysts believe.
Consumer spending and factory output have also slowed recently.
More than ten million workers who had filed for unemployment payments earlier were still collecting them as of 10 October.
The number of self-employed and gig workers collecting first-time benefits under the federal Pandemic Unemployment Assistance program fell by more than 20 percent to 372,981. The drop may indicate that employers are opting to hire temporary instead of permanent help as they wait for the economic recovery to take a firmer footing.