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- U.S. weekly jobless claims total 881,000 mln
U.S. weekly jobless claims total 881,000 mln
The data from
the Labor Department revealed on Thursday the number of applications for
unemployment decreased more than forecast last week, as the U.S. labor market continues
its gradual recovery from its biggest shock in history, caused by the
coronavirus pandemic.
According to
the report, the initial claims for unemployment benefits totaled 881,000 for
the week ended August 29. That brought the number of job losses over the past
twenty-four weeks (since the U.S. went into coronavirus lockdown in mid-March)
to near 59.3 million.
Economists had
expected 950,000 new claims last week.
Claims for the
prior week were revised upwardly to 1,011,000 from the initial estimate of 1,006,000.
Meanwhile, the
four-week moving average of claims fell to 991,750 from an upwardly revised 1,069,250
in the previous week.
Continuing
claims decreased to 13,254,000 million from a downwardly revised 14,492,000 in
the previous week.
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