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- U.S. weekly jobless claims total 1.186 million
U.S. weekly jobless claims total 1.186 million
The data from
the Labor Department revealed on Thursday the number of applications for
unemployment hit their lowest level of the COVID-19 pandemic area last week.
According to
the report, the initial claims for unemployment benefits totaled 1,186,000 for
the week ended August 1. That brought the number of job losses over the past twenty
weeks (since the U.S. went into coronavirus lockdown in mid-March) to more than
55.3 million.
Economists had
expected 1,415,000 new claims last week.
Claims for the
prior week were revised upwardly to 1,435,000 from the initial estimate of 1,434,000.
Meanwhile, the
four-week moving average of claims fell to 1,337,750 from an upwardly revised
1,368,750 in the previous week.
Continuing
claims decreased to 16,107,000 million from a downwardly revised 16,951,000 in
the previous week.
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