- U.S. weekly jobless claims total 1.877 million
Market news
U.S. weekly jobless claims total 1.877 million
The data from
the Labor Department revealed on Thursday the number of applications for
unemployment reduced last week to the lowest level since the U.S. economy went
into lockdown made to fight the COVID-19 pandemic, but still remained high.
According to
the report, the initial claims for unemployment benefits totaled 1,877,000 for
the week ended May 30. That brings the number of job losses over the past eleven
weeks (since the U.S. went into coronavirus lockdown in mid-March) to more than
42.6 million.
Economists had
expected 1,800,000 new claims last week.
Claims for the
prior week were revised upwardly to 2,126,000 from the initial estimate of
2,123,000.
Meanwhile, the
four-week moving average of claims fell to 2,284,000 from a revised 2,608,750
in the previous week.
Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimer