Unemployment claims continue to tumble! The Labor Department’s report states that 1.3 million Americans filed unemployment claims last week, which is down by 10,000 from the previous week.

Continuing claims fell by 737,750 to 17.338 million.

The department revised the previous week down by 4,000 to 1.314 million Americans.

The last four weeks saw an average of 1.375 million Americans file claims, which is “a decrease of 60,000 from the previous week’s revised average.”

The report uses the word “decrease” a lot, which will probably disappoint those suffering from TDS:

The advance seasonally adjusted insured unemployment rate was 11.9 percent for the week ending July 4, a decrease of 0.3 percentage point from the previous week’s revised rate. The previous week’s rate was revised down by 0.2 from 12.4 to 12.2 percent. The advance number for seasonally adjusted insured unemployment during the week ending July 4 was 17,338,000, a decrease of 422,000 from the previous week’s revised level. The previous week’s level was revised down by 302,000 from 18,062,000 to 17,760,000. The 4-week moving average was 18,272,250, a decrease of 737,750 from the previous week’s revised average. The previous week’s average was revised down by 75,500 from 19,085,500 to 19,010,000.

https://www.dol.gov/sites/dolgov/files/OPA/newsreleases/ui-claims/20201406.pdf

But will this stick? The coronavirus has spiked in many states, forcing governors and other officials to shut down again.

 

 
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