U.S. weekly jobless claims drop to seven-month low ...Middle East

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U.S. weekly jobless claims drop to seven-month low
The number of Americans filing new claims for unemployment benefits fell to a seven-month low last week, but the pace of decline has slowed and further improvement could be limited by a raging COVID-19 pandemic and lack of additional fiscal stimulus. Initial claims for state unemployment benefits totaled a seasonally adjusted 709,000 for the week ended Nov. 7 compared to 757,000 in the prior week, the Labor Department said on Thursday. The frail labor market is one of the major challenges President-elect Joe Biden faces when he takes over from President Donald Trump next January.

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