Economy

US weekly jobless claims total 1.542 million, vs 1.6 million estimate

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The pace of unemployment claims declined again last week as the U.S. jobs market continued its plodding recovery from the coronavirus pandemic, Labor Department data showed Thursday.

Initial claims totaled 1.54 million, compared with the 1.6 million expected from economists surveyed by Dow Jones and a plunge of 355,000 from the previous week’s total just shy of 1.9 million. The four-week moving average, which smooths volatility in the numbers fell by 286,250 to 2 million.

Though the total decelerated for the 10th straight week, it still represents a stunningly sharp exodus of workers to the unemployment line over the past three months. There were 705,676 claims filed under the Pandemic…



Source cnbc.com

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