The data from
the Labor Department revealed on Thursday the number of applications for
unemployment unexpectedly increase last week, as the U.S. labor market continues
its slow recovery from its biggest shock in history, caused by the COVID-19 pandemic.
According to the report, the initial claims for unemployment benefits totaled 870,000 for the week ended September 19.
Economists had expected 840,000 new claims last week.
Claims for the prior week were revised upwardly to 866,000 from the initial estimate of 860,000.
Meanwhile, the four-week moving average of claims fell to 878,250 from an upwardly revised 913,500 in the previous week.
Continuing claims dropped to 12,580,000 million from an upwardly revised 12,747,000 in the previous week.
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