Weekly Unemployment Claims Decrease as Slow Recovery Continues
According to the U.S. Labor Department, initial unemployment claims for the week ending September 26 totaled 837,000, a decrease of 36,000 from the previous week's revised level. This was the fifth consecutive week that claims were under 1 million after staying there for five months following COVID-19 related shutdowns. While the number of claims is showing a slow recovery, the total is still well above any number the country has seen prior to the pandemic.
The 4-week moving average was 867,250, a decrease of 11,750 from the previous week's revised average. The advance seasonally adjusted insured unemployment rate was...
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