Unemployment Claims Top One Million for the Second Consecutive Week
The latest unemployment data shows no reprieve from the coronavirus pandemic as more than one million people filed initial unemployment claims for the second week in a row. In early August, the number of initial filings dipped below one million for the first time since March. However, the decrease appears to be short-lived.
According to the U.S. Department of Labor, the figure for initial unemployment claims was 1,006,000, a decrease of 98,000 from the previous week's revised level. The previous week's level was revised down by 2,000 for a total of 1,104,000. The 4-week moving average was 1,068,000, a decline of...
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