Labor
Weekly Jobless Claims Increase, Surpass 1 Million Mark
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The number of Americans filing new unemployment claims increased to 1,106,000 last week as the economy continues to suffer the effects of the coronavirus pandemic, according to the Department of Labor.
The Department of Labor figure released Thursday represented an increase of 135,000 new jobless claims compared to the week ending on Aug. 8. That number was higher than Wall Street analysts’ expectations, according to Reuters.
Economists estimated the number of jobless claims for the week ending Aug. 15 to come in at 925,000, Reuters reported. Jobless claims fell below 1 million in the first week of August marking the first time the number fell below 1 million since March.
President Donald Trump declared a national emergency in March as coronavirus spread rapidly around the world.
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