In the week ending July 4, the advance figure for seasonally adjusted initial claims was 1,314,000, a decrease of 99,000 from the previous week's revised level. The previous week's level was revised down by 14,000 from 1,427,000 to 1,413,000. The 4-week moving average was 1,437,250, a decrease of 63,000 from the previous week's revised average. The previous week's average was revised down by 3,500 from 1,503,750 to 1,500,250. The advance seasonally adjusted insured unemployment rate was 12.4 percent for the week ending June 27, a decrease of 0.5 percentage point from the previous week's revised rate. The previous ... (full story)

Weakening demand and a resurgence in new COVID-19 cases are keeping new U.S. applications for unemployment benefits extraordinarily high, suggesting the labor market remains fragile despite record job growth in June.Initial claims for state unemployment benefits totaled a seasonally adjusted 1.314 million for the week ended July 4, down from 1.413 million in the prior week, the Labor Department said on Thursday. Economists polled by Reuters had forecast 1.375 million applications in the latest week. Claims peaked at a historic 6.867 million in late March. They have been gradually falling, though they remain roughly ... (full story)