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U.S. jobless claims rise last week for first time since March

Christian Fernsby ▼ | July 24, 2020
The number of initial jobless claims in the United States rose to 1.4 million last week amid a resurgence in coronavirus cases, reversing a weekly decline that has continued for 14 weeks, the Labor Department reported Thursday.
U.S. unemployment
Resurgence   U.S. unemployment
In the week ending July 18, the number of Americans filing for unemployment benefits increased by 109,000 from a revised 1,307,000 in the prior week, the department said.

Topics: U.S. jobless

With the latest numbers, a staggering 52.7 million initial jobless claims have been filed over the past 18 weeks, indicating the mounting economic fallout of the coronavirus pandemic.

The new report also showed that the four-week moving average, a method to iron out data volatility, decreased by 16,500 to reach 1.36 million.