Unemployment Claims Continue Plateau
Weekly initial jobless claims fell to 460,000, down 14,000 from the prior week, the Labor Department announced this morning. Economists had expected
Jul 31, 2020152.7K Shares2.5M Views
Weekly initial jobless claims fellto 460,000, down 14,000 from the prior week, the Labor Department announced this morning. Economists had expectedunemployment claims to fall to 455,000. The four-week average fell a bit to 456,500. The drop is good news, in some sense, but the plateau in new jobless claims is worrying. The unemployment and underemployment rates remain very high, high enough to stall out the recovery. And initial jobless claims need to drop for the unemployment rate to recede. Joe Weisenthal at Business Insider shows the plateauwith this graph:
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