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New Jobless Claims Remain Elevated

This morning, the Department of Labor reported that weekly initial unemployment insurance claims declined to 457,000, from 468,000 last week. The moving average

Jul 31, 2020
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This morning, the Department of Labor reportedthat weekly initial unemployment insurance claims declined to 457,000, from 468,000 last week. The moving average decreased to 452,000. The number of people collecting unemployment insurance increased to 4.57 million.
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Weekly-479x365.png
The initial claims number needs to fall into the 300,000s to bring down the overall unemployment rate, economists say. It has remained sustained around 450,000 since January, while the unemployment rate has not dropped below 9.5 percent.
Camilo Wood

Camilo Wood

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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.
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