Applications for unemployment benefits in the U.S. declined last week by more than projected, easing concerns of a renewed downturn in the labor market after several large states reported a pickup in coronavirus cases.
Initial jobless claims in regular state programs fell by 99,000 to 1.31 million in the week ended July 4, Labor Department data showed Thursday. The median forecast in a Bloomberg survey of economists called for 1.375 million.
Continuing claims -- the total number of Americans claiming ongoing unemployment benefits in state programs -- declined to 18.1 million in the week ended June 27, compared with a median projection of 18.8 million.
Source : Bloomberg
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