Unemployment applications remain high as job market stalls

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The number of Americans applying for first-time jobless aid dipped last week but remained at a high level, indicating ongoing woes in the job market.

Some 840,000 adults filed initial unemployment claims in the week ended October 3, the Labor Department said Thursday. That figure, adjusted for seasonal variation, was down by 9,000 claims from the prior week, and was in line with economists’ forecasts.

Another 464,000 applied for Pandemic Unemployment Assistance, a broader program intended for the self-employed and gig workers. This was the first time in two months that applications for self-employed aid dipped below half a million.

This is a developing story.

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