U.S. weekly jobless claims unexpectedly rise as labor market takes step back

People who lost their jobs wait in line to file for unemployment following an outbreak of the coronavirus disease , at an Arkansas Workforce Center in Fayetteville, Arkansas, U.S. April 6, 2020. REUTERS/Nick Oxford

“Washington policymakers looking for signs that additional stimulus is necessary can judge for themselves with the millions and millions of jobless workers getting unemployment benefits. The economy cannot carry on for long if it has to drag almost 32 million unemployed workers with it.” That likely threw off the model the government uses to strip out seasonal fluctuations from the data. Unadjusted unemployment insurance claims fell 141,816 to 1.37 million last week.

Last week’s claims data covered the period during which the government surveyed businesses for the nonfarm payrolls component of July’s employment report. Demand has been showing signs of picking up, with retail sales increasing strongly in May and June, supported by the additional weekly unemployment checks from the government. Unless this supplement is extended, this week is the last time that unemployed Americans are eligible for the benefit.

You mean the more busi esses the left closes, the more people are out of work?

Ah, a lot of the US stopped reopening bc of an increase in 'cases'. Ppl don't go out much, so ppl don't have jobs anymore. Again.

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Stocks Fall After Another 1.4 Million Americans File For UnemploymentJobless claims rose for the first time since March, indicating a slowdown in the labor market’s recovery. Well Trump can blame himself - he never will because he takes no responsibility, but he should. Instead of re-opening our economy we're closing it down AGAIN because of Trump quit on America. No we will flounder for many many months. second plan is on the way, the to generous deal makes people keep unemployed especially in summer time. FORBES KNOW IT AND STICK ON NEGATIVE. NASDAQ ALL TIME HIGH EVERY SECOND WEEK...CLOSE FORBES ON 4TH OF NOVEMBER. Where’s the Presidents tweet today ?
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Stocks Fall After Another 1.4 Million Americans File For UnemploymentJobless claims rose for the first time since March, indicating a slowdown in the labor market’s recovery. skleb1234 I’m old enough to remember when we could lose 5 million jobs a week and the market would skyrocket. skleb1234
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