Weekly Jobless Claims Fall Below 1 Million for First Time in Pandemic

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https://www.newsmax.com/economy/jobless-claims-labor-market/2020/08/13/id/98194…
Economy and Jobs
Headline Roundup
New Jobless Claims Fall Below 1 Million
Tags
Coronavirus
Unemployment
Economy And Jobs
Type of Content
News
Approved Story
1
Format
Article
Region
National
News Item Format
Standard

The number of Americans seeking unemployment benefits dropped below one million last week for the first time since the start of the COVID-19 pandemic in the United States, likely as the expiration of a $600 weekly jobless supplement discouraged some from filing claims.

Initial claims for state unemployment benefits totaled a seasonally adjusted 963,000 for the week ended Aug. 8, compared to 1.191 million in the prior week, the Labor Department said on Thursday. That was the lowest level since mid-March when authorities started shutting down non-essential business to slow the spread of coronavirus. Economists polled by Reuters had forecast 1.12 million applications in the latest week.