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Coronavirus Update: Jobless Claims Come in Below 800,000

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Here's your latest update on the coronavirus pandemic. 

According to Johns Hopkins, There are over 41.3 million cases of the virus worldwide, with over 1.1 million deaths. 

The U.S. has surpassed 8.3 million cases with 222,000 deaths. 

Per the COVID-19 Tracking Project, there were 57,294 new cases reported Wednesday, which is lower than the 60,664 cases reported the day earlier. 870,363 new tests were reported. And 994 deaths were reported yesterday, which is higher than the 832 deaths reported the day prior.

The number of Americans applying for first-time jobless benefits reported a surprise dip last week, which fell below 800,000 for the first time since the coronavirus pandemic began to impact the U.S. economy and jobs market. Revisions to California's jobless claim numbers were partially behind the drop. 

The Labor Department reported Thursday that 787,000 Americans filed for first-time jobless benefits for the week ended Oct. 17, down from a revised 842,000 claims the week earlier. Economists polled by FactSet had been expecting claims of 895,000.

And then there's Capitol Hill. House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin were reported to have made progress in their negotiations and are expected to speak again on Thursday. Whatever package that's put together will, however, face a Senate reluctant to approve a proposed package of about $2 trillion.

You can follow Katherine Ross on Twitter at @byKatherineRoss.

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