The U.S. labor market remains unstable as 1.1 million Americans filed for unemployment benefits last week, up from 960,000 the week before.

While there were far fewer jobless claims than at the start of the coronavirus pandemic, unemployment benefit applications have hovered between 1-2 million for the past two months, according to the U.S. Department of Labor. The labor market continues to reel from business closures prompted by the spread of coronavirus.