1.3M claimed jobless benefits last week as job losses appear to decelerate
by Jay Heflin, Business Editor |
| July 09, 2020 08:31 AM
The number of new jobless claims last week was 1.3 million, the Labor Department reported Thursday, as layoffs appear to level off. The number, which is historically high, has been between 1 million and 2 million since late May.
The number of new claims last week was slightly less than forecasters had projected and down from 1.43 million the week prior.
"This is the sixth straight week that new claims have been stuck between 1 and 2 million, indicating that less momentum is being seen to the downside," said Mark Hamrick, a senior economic analyst at Bankrate.com.
Over the past four weeks, new jobless claims have averaged 1.4 million. A year ago, the corresponding number was 219,000.
more
https://www.washingtonexaminer.com/news/1-3m-claimed-jobless-benefits-last-week-as-job-losses-appear-to-decelerate
