U.S. Jobless Claims Fall to Less Than 1 Million In Aug. 8 Week -- Update
August 13 2020 - 9:09AM
Dow Jones News
By Sarah Chaney
U.S. unemployment claims fell to less than one million last week
for the first time since the pandemic hit the U.S. in March.
New applications for unemployment benefits dropped to 963,000 in
the week ended Aug. 8, the Labor Department said on Thursday.
Claims are down significantly from a peak of near seven million in
March, but remain at historically high levels and well above the
pre-pandemic record of 695,000.
The number of people collecting unemployment benefits through
regular state programs, which cover the majority of workers, also
decreased at the beginning of August. That figure, at about 15.5
million, was still well above the pre-pandemic peak of 6.6 million
in 2009.
Write to Sarah Chaney at sarah.chaney@wsj.com
(END) Dow Jones Newswires
August 13, 2020 08:54 ET (12:54 GMT)
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