U.S Jobless claims are hitting nearly 21.5 million

United States is continuously under pressure after COVID-19. And these uncertainties lead further by rising jobless claims. The weekly jobless claims totalled 1.877 million last week versus the Dow Jones estimate of 1.775 million.

 

U.S Jobless claims are hitting nearly 21.5 million in a sign that workers are being called back to work, but very slowly. And the recent wave of protests in America creating a very chaotic situation.

U.S. Jobless Claims

 

As per the filings for unemployment insurance claims totalled 1.877 million in last week, is also a sign of relief for the coronavirus-related jobs crisis. But still, the level of unemployment remains persistently high.

Labor Department also represented a decline from the previous week’s upwardly revised unemployment claims a total of 2.126 million.

U.S. Jobless Claims Up

 

The economists surveyed by Dow Jones had been also looking for 1.775 million new claims. The filings under the COVID-19 Pandemic Unemployment Assistance program totalled to 623,073.

 

It happens the very first time the government’s weekly jobless claims report came under 2 million, since the week ended March 14.

 

“Even as states reopen, claims in the millions are an indicator that the economic pain of the COVID-19 crisis is still acute,” said Daniel Zhao, senior economist at job placement site Glassdoor.