Unemployment Continues to Increase as COVID-19 Impacts Number of Initial Claims
According to the U.S. Department of Labor, the figure for initial unemployment claims was 1,416,000 for the week ending July 18. This is an increase of 109,000 from the previous week's revised level. Last week's level was revised up by 7,000 to a total of 1,307,000. The 4-week moving average was 1,360,250, a decrease of 16,500 from the previous week's revised average.
For the week ending July 11, the adjusted insured unemployment rate reached 11.1%, a decline of 0.7 percentage points from the week prior. Also, the rate for the previous week was revised down to 11.8%. The 4-week moving average was...
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