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- U.S. weekly jobless claims total 840,000
U.S. weekly jobless claims total 840,000
The data from
the Labor Department revealed on Thursday the number of applications for
unemployment exceeded economists’ forecast last week, as the U.S. labor market
struggles to recover from its biggest shock in history, caused by the
COVID-19 pandemic.
According to
the report, the initial claims for unemployment benefits totaled 840,000 for
the week ended October 3.
Economists had
expected 820,000 new claims last week.
Claims for the
prior week were revised upwardly to 849,000 from the initial estimate of 837,000.
Meanwhile, the
four-week moving average of claims dropped to 857,000 from an upwardly revised
870,250 in the previous week.
Continuing
claims declined to 10,976,000 million from an upwardly revised 11,979,000 in
the previous week.
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