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- U.S. weekly jobless claims total 1.314 million
U.S. weekly jobless claims total 1.314 million
The data from
the Labor Department revealed on Thursday the number of applications for
unemployment was lower than forecast last week as workers continued to returned
gradually to their jobs in the wake of surging coroanvirus cases.
According to
the report, the initial claims for unemployment benefits totaled 1,314,000 for
the week ended July 4. That brought the number of job losses over the past sixteen
weeks (since the U.S. went into coronavirus lockdown in mid-March) to nearly 50million.
Economists had
expected 1,375,000 new claims last week.
Claims for the
prior week were revised downwardly to 1,413,000 from the initial estimate of 1,427,000.
Meanwhile, the
four-week moving average of claims fell to 1,437,250 from a downwardly revised
1,500,250 in the previous week.
Continuing
claims decreased to 18,062,000 million from a downwardly revised 18,760,000 in
the previous week.
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