Home World U.S. weekly jobless claims total 1.508 million, vs 1.3 million estimate

U.S. weekly jobless claims total 1.508 million, vs 1.3 million estimate

1
0

Weekly jobless claims stayed above 1 million for the 13th consecutive week as the coronavirus pandemic continued to hammer at the U.S. economy.

First-time claims totaled 1.5 million last week, higher than the 1.3 million that economists surveyed by Dow Jones had been expecting. That was 58,000 lower than the previous week’s 1.566 million, which was revised up by 24,000.

The elevated claims number persists even as all states have reopened to various extents and nonfarm payrolls grew by 2.5 million in May.

Continuing claims, or those who have been receiving unemployment benefits for at least two weeks, nudged lower to 20.5 million, a decline of 62,000 from the previous week.

In addition to the standard filings there were 760,526 claims filed under the Pandemic Unemployment Assistance program, according to unadjusted numbers. That brought the total of those receiving benefits to 29.1 million, a decrease of 375,522 from the previous week.

This is breaking news. Check back here for updates.

LEAVE A REPLY

Please enter your comment!
Please enter your name here