BREAKING: U.S. weekly jobless claims hit 1.877 million, vs. 1.775 million expected.
Weekly jobless claims totaled 1.877 million last week vs. the Dow Jones estimate of 1.775 million.
Filings for unemployment insurance claims totaled 1.877 million last week in a sign both that the worst is over for the coronavirus-related jobs crisis but that the level of unemployment remains stubbornly high. Continuing claims, which provide a clearer picture of how many Americans remain unemployed, totaled 21.5 million, a gain of 649,000 over the past week, also worse than Wall Street expected
The most recent data point was the private payrolls report Wednesday from ADP, which showed a decrease of 2.76 million in May. While that remains far higher than anything the U.S. economy saw in the pre-coronavirus era, it was well off Wall Street expectations of an 8.75 million decline.
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