Jobless claims: Another 770,000 Americans filed new unemployment claims

U.S. new weekly jobless claims unexpectedly rose to 770,000 last week even amid a wave of abating social distancing restrictions and improving weather.

The Department of Labor released its weekly report on new jobless claims on Thursday at 8:30 a.m. ET. Here were the main metrics from the report, compared to consensus data compiled by Bloomberg:

READ  Jobless Claims SPIKE in Unexpected Turn of Events

Initial jobless claims, week ended March 13: 770,000 vs. 700,000 expected and 712,000 during the prior week

Continuing claims, week ended March 6: 4.124 million vs. 4.034 million expected and 4.144 million during the prior week

Initial unemployment claims were expected to hold below 800,000 for a fourth consecutive week. Still, initial jobless claims remain above the Great Recession-era high of 665,000 from 2009. And new claims still need to fall significantly further to return to 2019 levels, when new claims averaged just over 200,000 per week.

READ  Shortage Of Everything Is Here! Americans Are Panicking As Prices Soaring At Grocery Stores

finance.yahoo.com/news/weekly-jobless-claims-week-ended-march-13-2021-pandemic-165400695.html

398 views

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.