Another 2.4 million Americans filed for unemployment benefits last week
The Labor Department’s weekly jobless claims report, the most timely data on the economy’s health, showed a surge to a record high in the number of people on unemployment rolls, suggested that businesses were probably in no rush to rehire workers as they reopen.
Initial claims for state unemployment benefits fell 249,000 to a seasonally adjusted 2.438 million in the week ended May 16, the government said on Thursday. Data for the prior week was revised to show 294,000 fewer applications received than previously reported, bringing down the tally for the week ending May to 2.687 million from 2.981 million. The states of Connecticut said last week it had misreported its numbers.
Economists said claims numbers were staying high as states were now processing applications for gig workers and many others trying to access federal government’s Pandemic Unemployment Assistance program. Last week’s filings lift the number of people who filed claims for unemployment benefits to about 38.6 million since March 21.
Claims dropped by 2 million between the April and May survey weeks. The economy lost a record 20.5 million jobs in April.
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