unemployment

Unemployment Claims Rise Anew In Newest Sign Of Economic Distress

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Unemployment Claims Rise Anew In Latest Signal Of Financial Misery

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Unemployment Claims Rise Anew In Newest Sign Of Financial Misery

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Another 1.34 million Americans expected to have filed for unemployment benefits

More than three months into the COVID-19 crisis in the U.S., countless Americans are still unemployed. Thursday’s release of the weekly initial jobless claims data could show another week of claims exceeding 1 million.

Economist surveyed by Bloomberg predict another 1.335 million Americans filed for unemployment benefits in the week ending June 30, following 1.51 million claims in the prior week. While last week’s report marked 11 consecutive weeks of deceleration, more than 45 million Americans have filed for unemployment insurance over the past 13 weeks.

Read more: Coronavirus: How to find a job in a tough economy

(Yahoo Finance/David Foster)

Continuing claims, which lags initial jobless claims data by one week, is expected to total 20 million in the week ending June 13, down from 20.54 million in the week ending June 6.

“Initial jobless claims continue to moderate only gradually,” Nomura economist Lewis Alexander wrote in a

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Another 1.29 million Americans expected to have filed for unemployment benefits

A handful of recent economic data pointed toward a quicker-than-expected recovery, and the weekly initial jobless claims report Thursday will provide investors with additional clues on the state of the U.S. labor market.

Another 1.29 million Americans are expected to have filed for unemployment benefits in the week ending June 13. In the prior week, there were 1.54 million jobless claims, and it marked 10 consecutive weeks of deceleration. Over the past 3 months, more than 44 million Americans have filed for unemployment insurance.

(Yahoo Finance/David Foster)

Continuing claims, which lags initial jobless claims data by one week, is expected to total 19.85 million in the week ending June 6, following 20.93 million in the prior week.

Initial jobless claims data isn’t necessarily a perfect indicator of the U.S. labor market, but it still is useful, according to Wells Fargo Securities. “Over-reliance on jobless claims led every forecaster to

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