Data suggests labor market’s recovery could be cooling because of an uptick in coronavirus cases

Worker applications for unemployment benefits have plateaued at historically high levels after easing for months from a peak early in the coronavirus pandemic, suggesting layoffs remain elevated and the labor markets recovery is cooling.
In recent weeks, initial claims for jobless benefits have settled around 1.3 million a weekhalting what had been a steady descent from a peak of 6.9 million in late March, when the pandemic and business closures shut down parts of the U.S. economy. The level recorded in recent weeks remains…