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Financial News: U.S. Weekly Jobless Claims Drop More Than Expected

U.S. Weekly Jobless Claims Drop More Than Expected

09/03/2020 - 08:39:00 (RTTNews)

(RTTNews) - A report released by the Labor Department on Thursday showed first-time claims for U.S. unemployment benefits tumbled by more than expected in the week ended August 29th.

The Labor Department said initial jobless claims declined to 881,000, a decrease of 130,000 from the previous week's revised level of 1.011 million.

Economists had expected jobless claims to drop to 950,000 from the 1.006 million originally reported for the previous week.

On Friday, the Labor Department is scheduled to release its more closely watched monthly employment report for August, with employment expected to surge up by 1.4 million jobs.

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