The number of people filing for unemployment in the latest week rose to 419,000, returning weekly claims to a level not recorded since early June.
Increasingly, some worry that the economy is beginning to falter. Small businesses are struggling to find workers. One of the biggest challenges cited by business is that the Biden administration’s unemployment benefits package is so generous, that it may be encouraging workers to remain on unemployment, rather than seek jobs.
A reported 9 million jobs are currently open in the U.S.
Investors may see weaker jobs numbers as a reason for the Federal Reserve to continue its aggressively low interest rates.