New applications for unemployment benefits likely remained steady at high levels last week amid a surge in coronavirus cases across the country.
Economists surveyed by The Wall Street Journal estimate weekly initial claims for jobless benefits, a proxy for layoffs, edged down slightly to 740,000 last week from 751,000 a week earlier. While claims have fallen from a peak of near 7 million at the end of March, they have remained between 750,000 and 850,000 for more than a month, suggesting the labor market faces a long road…
