Economy

Jobless claims edge lower to 837,000 as slow recovery continues

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First-time claims for unemployment insurance totaled 837,000 last week, the Labor Department said Thursday as the jobs market continues its plodding recovery from the coronavirus pandemic.

Economists surveyed by Dow Jones had been expecting 850,000. The weekly total represented a decline of 36,000 from the previous week’s upwardly revised 870,000, according to seasonally adjusted numbers.

This was the fifth consecutive week that claims were under 1 million after staying there for five months following the Covid-19-related economic shutdown in mid-March. However, the total is still well above anything the U.S. has seen since before the crisis.

Continuing claims provided some better news,…



Source cnbc.com

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