Another 1M File New Unemployment Claims

Another 1 million Americans filed for first-time unemployment insurance benefits last week, as the impacts of the coronavirus pandemic continue to reverberate across the economy.

The Labor Department released its report on weekly unemployment insurance claims Thursday morning, and here are the main metrics, according to Bloomberg:

Initial jobless claims, week ended Aug. 22: 1 million vs. 1 million expected, and vs. 1.1 million during the prior week

Continuing claims, week ended Aug. 15: 14.5 million vs. 14.4 million expected, and vs. 14.8 million during the prior week

The report showed back-to-back weeks that jobless claims topped the 1 million mark, following a brief break below that level earlier in August. While an improvement from the pandemic-era high of nearly 6.9 million weekly new jobless claims at the end of March, the weekly new jobless claims sum of 1 million remained far above the 665,000 new claims filed at the pre-pandemic high in March 2009.

Click here for the full report from Emily McCormick at Yahoo Finance.

Since the week ended March 20 this year, more than 58 million Americans have so far filed new unemployment insurance claims.

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