3.1 Million File New Unemployment Claims

Another 3.1 million U.S. workers filed for new unemployment benefits during the week ending May 2. First-time jobless filings related to the COVID-19 crisis now top 33 million, but have fallen for the sixth consecutive week since hitting a peak at the end of March, suggesting that the wave of unemployment caused by the pandemic is cresting. But economic pain is likely to continue.
The weekly jobless claims report is the most-timely economic indicator for measuring the impact of the virus on the U.S. economy.
Source: New feed 2