Jobless claims for the past week were lower than economists had predicted as workers begin returning to their jobs, according to data from the Labor Department…
Jobless claims for the past week were lower than economists had predicted as workers begin returning to their jobs, according to data from the Labor Department shows.
The total number for jobless claims for the week ending in July 4 was 1.3 million, according to the Labor Department data, which is 99,000 fewer claims than the previous week. Economists surveyed by Down Jones had predicted 1.39 million jobless claims, according to CNBC.
Continuing claims dropped 698,000 from a week ago to 18 million after the previous week’s 530,000 drop, CNBC reported.
“These improvements in the labor market reflected the continued resumption of economic activity that had been curtailed in March and April due to the coronavirus (COVID-19) pandemic and efforts to contain it,” the Thursday report said.
