U.S. Jobless Claims Numbers Slow to 837K

Applications for jobless benefits south of the border fell below expectations last week.

Figures released Thursday by the U.S. Labor Department revealed first-time claims for unemployment insurance totaled 837,000, as the jobs market continued its plodding recovery from the coronavirus pandemic.

Economists surveyed by Dow Jones had been expecting 850,000. The weekly total represented a decline of 36,000 from the previous week’s upwardly revised 870,000, according to seasonally adjusted numbers.

The number proved to be was the fifth consecutive week that claims were under one million after staying there for five months following the COVID-19-related economic shutdown in mid-March. However, the total is still well above anything the U.S. has seen since before the crisis.

Continuing claims provided some better news, with those collecting benefits for at least two weeks falling by 980,000 to 11.77 million. The continuing claims number runs a week behind.