Number is nearly four times the pre-crisis level but well below the peak of almost 7M hit earlier this year

The number of Americans filing for first-time unemployment benefits remained elevated last week as a surge in COVID-19 infections and new restrictions to help curb the spread of the virus weighed on the labor market's recovery.

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Figures released Thursday by the Labor Department show 900,000 Americans filed first-time jobless claims in the week ended Jan. 16, slightly lower than the 910,000 forecast by Refinitiv economists.

The number is nearly four times the pre-crisis level but is well below the peak of almost 7 million that was reached when stay-at-home orders were first issued in March. Almost 70 million Americans, or about 40% of the labor force, have filed for unemployment benefits during the pandemic. Read more at FOX Business