Labor Department, Unemployment Claims are Up


US-TEXAS-ECONOMY-INDUSTRY

US-TEXAS-ECONOMY-INDUSTRY

WASHINGTON, DC — The claims for unemployment are up. According to the Labor Department, 211,000 thousand workers filed first-time jobless claims last week.

That's an increase of 6,000 from the previous week, as that total was revised up from 204,000 to 205,000.

The largest increase in claims was in California, Texas, Missouri, Florida and Arizona.The largest decreases were in New York, Wisconsin, South Carolina, Connecticut and New Jersey.

This trend comes on the heels of falling stocks on Wall Street. Shares of Comcast and Travelers are sliding 1.5 percent and 3 percent respectively even as both companies reported strong corporate earnings.

In early trading, the Dow Jones Industrial Average is down around 200 points while the Nasdaq and S&P 500 are trading lower as well.

Stocks took a major tumble as investors worry about the deadly coronavirus outbreak.Shares in American Airlines and Delta both dropped more than three percent as the travel sector is being hit hard.The Dow Jones Industrial Average fell 454 points to close at 28-535.

President Trump has been crediting his administration with job creation. At a campaign rally last night in Wildwood, New Jersey, he touted his own achievements, which he summed up as"creating jobs and killing terrorists."