2.4 Million File New Unemployment Claims

Another 2.4 million U.S. workers filed for new unemployment benefits during the week ending May 16. That brings the nine-week total to about 39 million.

Weekly first-time claims have been gradually declining since hitting a record 6.8 million in late March. The number of workers continuing to claim unemployment benefits reached 25 million for the week ending May 9. 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. economy.
Source: New feed 2