Initial Jobless Claims Dip Slightly, Remain at Historical Level – By Claire Hansen (US News) / Sept 17 2020
The number of filings for unemployment benefits have plateaued in recent weeks, a sign that the labor market recovery is slowing.
INITIAL FILLINGS FOR unemployment benefits held largely steady last week, dipping slightly to 860,000 in yet another sign that the labor market’s fledgling recovery is stagnating.
The figure, released Thursday by the Labor Department, is a decrease of 33,000 from the previous week.
Initial claims have plateaued in recent weeks, hovering around 900,000. The four-week moving average for initial jobless claims was 912,000 last week, according to the Labor Department.
Though claims have fallen sharply since hitting nearly 7 million in March, the figures remain historically high. The pre-pandemic record for weekly jobless claims sat just under 700,000.