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Financial News: U.S. Weekly Jobless Claims Jump To 1.416 Million

U.S. Weekly Jobless Claims Jump To 1.416 Million

07/23/2020 - 08:38:00 (RTTNews)

(RTTNews) - After reporting decreases in first-time claims for U.S. unemployment benefits for fifteen straight weeks, the Labor Department released a report on Thursday showing a notable rebound in jobless claims in the week ended July 18th.

The report said initial jobless claims jumped to 1.416 million, an increase of 109,000 from the previous week's revised level of 1.307 million. Economists had expected jobless claims to come in unchanged at the 1.300 million originally reported for the previous month.

Jobless claims increased for the first time since late March but remain well below the record high of 6.867 million set in the week ended March 28th.

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