First-Time Unemployment Claims Top 1 Million
The number of first-time unemployment claims has moved back above the one-million mark amid the pandemic. The US Labor Department reports first-time claims rose to a seasonally adjusted 1.1 million claims last week. It was 971,000 the week before that. Economists hoped it would stay below that 1 million line, indicating the labor market is on a steady path to recovery. Meanwhile, continued claims declined to 14.8 million, down from 15.5 the week before.