Economy

U.S. weekly jobless claims total 1.416 million, vs 1.3 million expected

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The number of Americans who filed for unemployment benefits rose more than expected last week as the coronavirus pandemic continues to batter the U.S. economy. 

The Labor Department said Thursday initial jobless claims increased by 1.416 million for the week ending July 18. Economists polled by Dow Jones expected initial claims to rise by 1.3 million. That marks the 18th straight week in which initial claims rose by more than 1 million.

California saw the highest number of initial claims filed last week at 292,673, the Labor Department’s report showed. Florida and Georgia each reported more than 100,000 claims for last week as well. 

Last week’s apparent stalling in the labor market comes…



Source cnbc.com

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