Economists surveyed by Refinitiv expected 732,000 new claims

The number of Americans applying for state unemployment benefits held steady last week, suggesting the pace of layoffs is slowing despite a resurgence in coronavirus infections and new business restrictions in some of the country's major cities.

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The latest jobless claims figures from the Labor Department, which cover the week ending Oct. 31, show that 751,000 workers sought aid last week, about four-times the pre-crisis level. Still, it's well below the peak of nearly 7 million in late March, when states first implemented lockdown measures to curb the spread of COVID-19.

More than 66 million Americans  roughly 40% of the nation's labor force  have sought jobless aid since the coronavirus lockdowns began in mid-March. Read more at FOX Business