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10 things you need to know today: December 11, 2020

The Labor Department reported on Thursday that 853,000 Americans filed first-time jobless claims last week, up 137,000 from the previous week’s revised level of 716,000. The figure far exceeded the 730,000 claims economists had been expecting. It was the highest weekly total since Sept. 19. The rise came as COVID-19 cases, hospitalizations, and deaths surged across the United States. The nation on Wednesday set a record for daily coronavirus deaths with more than 3,000 in a single day. The numbers marked the latest in a series of indications that hiring is slowing as some states impose new stay-at-home and business restrictions. The Labor Department last week released a disappointing jobs report showing that only 245,000 jobs were added in November. Economists had expected 440,000 new jobs. [Bloomberg, CNBC]

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