The bumpy economic recovery continues. Vaccine news is promising, but economic growth will remain strained until virus counts decelerate. Initial unemployment claims jumped 137,000 from the prior week to 853,000 this week. Continued claims increased by 230,000.
The surge in virus counts is impacting businesses' ability to maintain traction. Job growth had already flattened. Expect the pace of the recovery to remain more moderate until spring approaches.