The number of new unemployment insurance claims improved last week but held above 1 million yet again, as the coronavirus pandemic continues to weigh on the pace of recovery in the labor market.
Here were the main results from the Labor Department’s weekly report released Thursday morning, compared to consensus estimates compiled by Bloomberg:
- Initial jobless claims, week ended Aug. 1: 1.186 million vs. 1.4 million expected, and 1.435 million during the prior week
- Continuing claims, week ended July 25: 16.107 million vs. 16.9 million expected, and 16.951 million during the prior week
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