Labor Dept Reports 870K New Jobless Claims For Week

Yahoo Finance reports:

Another 870,000 Americans filed for first-time unemployment benefits last week, unexpectedly rising slightly from the prior week to reaffirm a slowdown in the U.S. economic recovery. The U.S. Department of Labor released its weekly jobless claims report at 8:30 a.m. ET Thursday.

At 870,000, Thursday’s figure represented the fourth consecutive week that new jobless claims came in below the psychologically important 1 million level, but was still high on a historical basis.

The number of individuals claiming benefits in all programs for the week ended Aug. 29 rose for a third straight week to 29.8 million. That marked an increase of nearly 100,000 over the prior week, and a level nearly 20 times greater that of the comparable week in 2019.