Unemployment Claims Continue to Fall

Another 2.1 million U.S. workers filed for new unemployment benefits during the week ending May 23. That’s a dip from last week’s 2.4 million first-time claims, but brings the 10-week total to about 40 million as businesses begin to reopen across the country.
First-time claims have been gradually declining since hitting a record 6.8 million in late March. Continuing claims data provides insight into how soon the economy may ramp back up. The weekly jobless claims report is the most timely economic indicator for measuring the impact of the virus on the U.S. labor market.
Source: New feed 2