U.S. weekly jobless claims total 1.186 million, lowest level of the coronavirus pandemic

CNBC:

Weekly jobless claims hit their lowest level of the pandemic area, totaling 1.186 million last week, well below Wall Street expectations.

Economists surveyed by Dow Jones had been looking for 1.42 million. The level for the week ended Aug. 1 represented a drop of 249,000 from the previous period. 

Amid worries that the employment picture was faltering after two record-breaking months of job creation, the claims number indicates some momentum. Continuing claims, or those who have collected benefits for two straight weeks, dropped by 844,000 to 16.1 million. more here

6 Comments on U.S. weekly jobless claims total 1.186 million, lowest level of the coronavirus pandemic

  1. The plan is to eliminate the majority of the private sector. All that will be left is government and corporate jobs.

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  2. Dems now shift full attention to making sure schools stay closed and online so a parent must stay home along with creating the second wave narrative, make sure any school/college that does open has to immediately close due to Covid spread, demand to shut down the economy again with the goal of having a bad third quarter. And of course a manufactured stock market crash not out of the question. Amazing how resilient the economy is even with everything still locked down and no events allowed other than riots.

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  3. Headline on lying CNN 8/7/2020

    US jobs recovery takes a massive hit and is still down nearly 13 million jobs

    When you open the story and read it:

    The US economy added another 1.8 million jobs in July, a sharp slowdown from June and a small step for an economy that’s still down 12.9 million jobs during the pandemic.

    It was the third-straight month of improvement after the spring lockdown that decimated the labor market, and the July job gain exceeded economists’ expectations. Even so, it was far fewer than the 4.8 million jobs added in June.

    The unemployment rate fell to 10.2%, the Bureau of Labor Statistics reported Friday, but remains above the Great Recession high of 10% that was reached in October 2009.

    It does not seem to be a “massive hit” that the lying CNN claims.

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