The number of Americans applying for initial unemployment benefits came in at a larger-than-forecast 870,000 last week, signaling that the recovery in the labor market is losing momentum as the coronavirus pandemic lingers and layoffs continue apace.
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Treasury Secretary Mnuchin, after speaking with House Speaker Pelosi, said stimulus talks are still far apart and it is difficult to get anything done before the election but will keep trying.
Differences continue to narrow in US stimulus talks but more work needs to be done. Pelosi and Mnuchin will speak again today, according to her aide.