• U.S. weekly jobless claims total 837,000 mln

Market news

1 October 2020

U.S. weekly jobless claims total 837,000 mln

The data from the Labor Department revealed on Thursday the number of applications for unemployment unexpectedly decrease 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 837,000 for the week ended September 26.

Economists had expected 850,000 new claims last week.

Claims for the prior week were revised upwardly to 873,000 from the initial estimate of 870,000.

Meanwhile, the four-week moving average of claims dropped to 867,250 from an upwardly revised 879,000 in the previous week.

Continuing claims declined to 11,767,000 million from an upwardly revised 12,747,000 in the previous week.

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