Weekly First-Time Jobless <br />Claims Surge to 853,000.<br />The number is much higher than the <br />730,000 economists had predicted.<br />This week’s report brings a substantial round of movement in the wrong direction. It is evident the labor market is still in crisis, AnnElizabeth Konkel, economist at Indeed Hiring Lab, via NBC News.<br />The influx in nationwide coronavirus cases <br />is slowing the ability to recover jobs.<br />Rising infections are restraining consumer spending on services and the economy still has 9 million fewer jobs than it did before the pandemic, Robard Williams, a senior vice president at Moody’s, via NBC News.<br />While we expect the labor market recovery to continue in 2021, new jobless claims remain high ... , Robard Williams, a senior vice president at Moody’s, via NBC News.<br />... as governments have reimposed lockdowns to control rising infection rates, particularly impacting businesses in the high-touch service sectors, Robard Williams, a senior vice president at Moody’s, via NBC News.<br />On Dec. 9, House Speaker Nancy Pelosi and Senate Minority Leader Chuck Schumer rejected Treasury Secretary Steven Mnuchin's $916 billion coronavirus relief proposal.<br />Millions of Americans are set to lose their unemployment benefits in a matter of weeks
