Unemployment claims below 1M for 1st time since March

Transcript

There is some encouraging news for the economy.

The new jobs report shows first-time jobless claims fell below 1 million for the first time since March.

The Labor Department said Thursday 963,000 Americans filed for first-time unemployment benefits last week.

That’s lowest number of weekly initial claims since the pandemic shut down the US economy.

Experts say it means people keep returning to work.

However the continued jobless claims numbers, which counts people who have filed for unemployment benefits at least two weeks in a row, remains high.

That number is 15.5 million.

Posted – 8.13.20