US jobless claims for the week that ended Saturday totaled 1.5 million, the Labor Department said Thursday. That slightly exceeded the consensus economist estimate of 1.3 million.
Continuing claims, the aggregate total of people receiving unemployment benefits, totaled 20.5 million for the week that ended June 6.More than 1 million Americans filed for unemployment insurance last week as economic fallout from the coronavirus pandemic continued to spur layoffs across the nation.
Continuing claims, which represent the aggregate total of people receiving unemployment benefits, were 20.5 million for the week that ended June 6, down from 20.9 million in the previous report. The decline suggests that people are starting to return to work as the US economy reopens.added 2.5 million jobs during the monthBut paired together, the two reports show the ebb and flow of the labor market amid the coronavirus pandemic and recovery.
"We see it in consumer spending, in income data, we see it in payrolls. All of that is helping," said Powell, adding that there are still more than 20 million people who have been "dislodged" from their jobs due to the coronavirus pandemic.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Singapore Latest News, Singapore Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Business Insider's best investing stories of the week ended June 16 - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. ......why did you use a photo of some rave... ? Day trading is for suckers These are the suckers that the 'pump and dump' big investors will use to unload their inflated stocks. That's why they are touting the 'V' shaped recovery. It's a repeat of the 2008 mortgage securities pump and dump.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Former Google X employee raises $21 million for AI startup Streamlit - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. Techmeme 🤠
Source: BusinessInsider - 🏆 729. / 51 Read more »
Hoxton Ventures raises under $100 million for second fund - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. Congrats hkanji and robkniaz!
Source: BusinessInsider - 🏆 729. / 51 Read more »
Netflix CEO and wife donate $120 million to Black institutions, colleges - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. Thanks So I should forget all those movies where people are called 'Niggers'?! Please donate & share to support this black business!
Source: BusinessInsider - 🏆 729. / 51 Read more »