Latest In

News

New Jobless Claims Fall, Remain Above 450,000

This morning, the Labor Department announced that initial weekly jobless claims fell to 454,000. The number of people continuing to receive benefits fell to the

Jul 31, 2020
32.1K Shares
1.3M Views
This morning, the Labor Department announcedthat initial weekly jobless claims fell to 454,000. The number of people continuing to receive benefits fell to the lowest level in seven months, in large part due to Congress’ inability to renew federally extended benefits. The broader trend remains: Initial claims have failed decline materially since the beginning of the year, a stall-out that implies a higher unemployment rate and continued distress in the jobs market.
UI-480x468.png
UI-480x468.png
Economists had expectedinitial claims to drop to around 460,000, so, for the first time in some weeks, initial claims beat expectations. The 21,000 drop in initial claims brings them down to the lowest level since May. But the four-week average is a sobering 466,000, and most economists say that initial claims need to fall into the 300,000s or lower to bring down the broader unemployment rate.
Camilo Wood

Camilo Wood

Reviewer
Camilo Wood has over two decades of experience as a writer and journalist, specializing in finance and economics. With a degree in Economics and a background in financial research and analysis, Camilo brings a wealth of knowledge and expertise to his writing. Throughout his career, Camilo has contributed to numerous publications, covering a wide range of topics such as global economic trends, investment strategies, and market analysis. His articles are recognized for their insightful analysis and clear explanations, making complex financial concepts accessible to readers. Camilo's experience includes working in roles related to financial reporting, analysis, and commentary, allowing him to provide readers with accurate and trustworthy information. His dedication to journalistic integrity and commitment to delivering high-quality content make him a trusted voice in the fields of finance and journalism.
Latest Articles
Popular Articles