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- U.S. weekly jobless claims total 1.427 million
U.S. weekly jobless claims total 1.427 million
The data from
the Labor Department revealed on Thursday the number of applications for
unemployment rose more than forecast last week, as the CVID-19 pandemic
continues to pressure the U.S. economy.
According to
the report, the initial claims for unemployment benefits totaled 1,427,000 for
the week ended June 27. That brought the number of job losses over the past fifteen
weeks (since the U.S. went into coronavirus lockdown in mid-March) to nearly 48.7
million.
Economists had
expected 1,355,000 new claims last week.
Claims for the
prior week were revised upwardly to 1,482,000 from the initial estimate of 1,480,000.
Meanwhile, the
four-week moving average of claims fell to 1,503,750 from an upwardly revised
1,621,250 in the previous week.
Continuing
claims increased to 19,290,000 million from a downwardly revised 19,231,000 in
the previous week.
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