Initial Jobless Claims Remain Stuck Above 450,000
This morning, the Bureau of Labor Statistics reported that initial jobless claims fell by the largest amount in two months. Still, they remain high -- at
Jul 31, 20201.8K Shares1.8M Views
This morning, the Bureau of Labor Statistics reportedthat initial jobless claims fell by the largest amount in two months. Still, they remain high — at 457,000, 19,000 less than last week but just 2,000 less than a fortnight ago — demonstrating the continued sluggish pace of job growth. The new claims number dropped slightly more than economists predicted. Claims need to fall below 425,000 to signal real job growth, given that the labor force constantly expands. This chart shows claims since the beginning of 2007. See the plateau in sustained, high claims on the right:
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