Requests for unemployment assistance grow but the stock market rises and continues the hope of an aid plan

In the week before the presidential elections, the number of people who claimed unemployment benefits stood at 750,000, according to figures released Thursday by the Labor Department.

The number of people requesting benefits for losing their job is still almost four times higher than it was before the coronavirus pandemic, when it barely exceeded 200,000.

Weekly unemployment in the middle of election week.Noticias Telemundo

[Applications for unemployment assistance are falling but it is misleading: "The labor market is far from safe"]

The Government and Congress have still not reached an agreement on a new economic stimulus plan to restore benefits for the unemployed.

Senate Majority Leader Mitch McConnell, who was reelected in Kentucky, said Congress should pass the $ 500 billion economic stimulus package for the pandemic, but does not include a $ 1,200 check for the Americans, before the year is out.

That plan has already been rejected twice with the Senate under Republican control.

Now the elections are pending who will win the new majority, but in the House of Representatives it is maintained by the Democrats, who have rejected it.

Trump has also rejected that plan.

Negotiations for a new stimulus package for the pandemic still do not reach a solution

Oct. 26, 202000: 29

[Alert about fraud against unemployment beneficiaries]

The Wall Street Stock Exchange opened higher on Thursday, with the S&P 500 on track to achieve its best weekly performance since last April.

Tech company stocks have contributed to the gains.

Apple and Microsoft each rose more than 2%.

[Economic crisis and worrying unemployment figures: how long until recovery?]

According to the AP news agency, the prospects for further political division as election results continue to come in is easing investor concerns that if Democrats win the presidency, they could go after big tech companies more aggressively.