Jobless claims climb
The number of Americans seeking first time unemployment continues its historic climb. The Labor Department reports 2.981 million people applied for unemployment benefits last week.
While filings have eased slightly over the last six weeks, they have not come down as fast as analysts were projecting.
Last week’s filings have put the coronavirus crisis total to 36.5 million, by far the biggest job loss in U.S. history.
The four week moving average of unemployment claims a measure to smooth out volatility rose to a little more than 19.75 million.