U.S. states saw another 840,000 jobless claims filed last week, as the number of Americans applying for first-time unemployment insurance benefits each week continues to hover at a historically high level.
Here are the main metrics from the U.S. Department of Labor’s report, compared to Bloomberg estimates:
Initial jobless claims, week ended Oct. 3: 840,000 vs. 820,000 expected; 849,000 during the prior week
Continuing claims, week ended Sept. 26: 10.97 million vs. 11.4 million expected; 11.98 million during the prior week
New weekly unemployment insurance claims have held below the psychologically important 1 million mark for the past six consecutive weeks but have so far failed to break below 800,000 since the start of the pandemic. At 840,000 last week’s new claims remained at a level still handily above the pre-pandemic record high of 695,000 from 1982.
Click here to read the full story from Emily McCormick at Yahoo Finance.