Americans filing initial unemployment claims jumped back above one million for the week ending Aug. 15, the Labor Department said, suggesting a more difficult climb out of the economic hole triggered by the coronavirus pandemic.
Since hitting a record 6.9 million at the end of March, initial claims have fallen, albeit gradually, for the past 15 weeks. That streak ended last week: the Labor Department reported 1.4 million new claims for the week ending July 14, up by 109,000 from the previous week.
Initial claims filed with the Labor Department totaled 1.3 million last week, a decrease of just 10,000 from the previous week and a stark reminder of how the coronavirus pandemic has upended the U.S. economy.
The good news: initial claims fell for the 14th consecutive week, the Labor Department said yesterday. The bad news: despite the decrease, initial claims topped one million for the 14th consecutive week and look as if they will continue to do so for several more weeks.
The Bureau of Labor Statistics reported total nonfarm payroll employment jumped by 4.8 million in June, as easing of coronavirus restrictions brought back more workers who had been laid off earlier this spring.
American workers filed 1.5 million new applications for jobless benefits last weeks, the Labor Department reported Friday—the third consecutive week at that level, but still at historically high levels in the wake of the coronavirus pandemic.
More than 1.5 million Americans filed initial claims for unemployment insurance last week virtually unchanged from the previous week and at historically elevated levels for the 12th consecutive week, the Labor Department reported yesterday.
More than 1.5 million Americans filed new claims for unemployment insurance during the first week of June, the Labor Department reported Thursday—the lowest level since the start of the coronavirus pandemic but still well above historic norms.