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- U.S. weekly jobless claims total 793,000
U.S. weekly jobless claims total 793,000
The data from
the Labor Department revealed on Thursday the number of applications for
unemployment declined last week, but remained elevated, 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 decreased by 19,000 to
793,000 for the week ended February 6. Still, claims remained
well above pre-pandemic levels.
Economists had
expected 757,000 new claims last week.
Claims for the
prior week were revised upwardly to 812,000 from the initial estimate of 779,000.
Meanwhile, the
four-week moving average of jobless claims fell to 823,000 from an upwardly
revised 856,500 in the previous week.
Continuing
claims decreased to 4,545,000 from an upwardly revised 4,690,000 in the previous
week.
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