Another 1.3 Million File Unemployment Claims
LABOR DEPARTMENT: ANOTHER 1.3M AMERICANS FILE FOR UNEMPLOYMENT LAST WEEK
(CNN) – The Labor Department reports another 1.3 million people filed for first-time unemployment claims last week.
The weekly jobless claims have been lower for more than three months since their peak in the final week of March.
But the claims remain stubbornly high.
And they’re not trending downward as quickly as economists would like.
Meanwhile, continued claims, which count workers who have filed claims for at least two weeks in a row, stood at 18.1 million last week.
Many states have paused their economic reopening schedules following a nationwide rise in coronavirus cases.
That will likely keep people at home and not working even longer.