New Unemployment Claims Decrease To 860,000, Beating Predictions

New Unemployment Claims Decrease To 860,000, Beating Predictions


The number of Americans filing new unemployment claims decreased to 860,000 last week as the economy continues to suffer the effects of the ongoing coronavirus pandemic, according to the Department of Labor.

The Department of Labor figure released Thursday represented an decrease of new jobless claims compared to the week ending on Sept. 5, in which there were 884,000 new jobless claims reported.

Economists surveyed by Dow Jones expected Thursday’s jobless claims number to come in around 875,000, CNBC reported. New jobless claims fell below 1 million in the first week of August, marking the first time the weekly claims were below 1 million since March. (RELATED: US Economy Added 1.4 Million Jobs In August, Unemployment Falls To Lowest Rate Since April)

Trending: Line “As Far As The Eye Can See” for Trump Rally In Bemijdi, MN

People walk by the New York Stock Exchange in New York City. (Spencer Platt/Getty Images)

People walk by the New York Stock Exchange in New York City. (Spencer Platt/Getty Images)

“Don’t be fooled by seasonally adjusted first-time jobless claims remaining below 1 million for the second consecutive week,” Chris Rupkey, chief financial economist for MUFG Union Bank, said in a note Sept. 11, according to Yahoo Finance.

He continued:

Continue reading

You Might Like

Do NOT follow this link or you will be banned from the site!