Source: Yahoo! Finance
Thu, June 10, 2021, 8:31 AM
U.S. states saw the fewest new unemployment claims since March 2020 last week, with initial filings down for a sixth straight week as economic activity picked up further.
The Department of Labor released its weekly report on new jobless claims on Thursday at 8:30 a.m. ET. Here were the main metrics from the report, compared to consensus data compiled by Bloomberg:
-- Initial jobless claims, week ended June 5: 376,000 vs. 370,000 expected and 385,000 last week
-- Continuing claims, week ended May 22: 3.499 million vs. 3.650 million expected and 3.771 million last week
Economists expected new filings would come in below the psychologically important level of 400,000 for a back-to-back week and came ever-closer to their pre-pandemic average of just over 200,000 per week. Jobless claims have also set new pandemic-era lows for each of the past five consecutive weeks, trending lower in tandem with rising labor demand during the recovery.
Despite the drop in headline new unemployment claims, the total number of individuals still claiming unemployment benefits has remained elevated, exacerbating concerns over widespread labor shortages.
Read more: https://finance.yahoo.com/news/weekly-j ... 15377.html