Another 1.2 million Americans filed for initial jobless benefits last week on a seasonally adjusted basis, the Department of Labor reports. That is down from the prior week's 1.4 million initial jobless claims. ChristineRomans reports.
That said, another 1.2 million Americans filed for initial jobless benefits last week on a seasonally adjusted basis, the Department of Labor reported on Thursday. That was down from the prior week's 1.4 million claims.Not adjusting for seasonal factors, just under 1 million people filed initial unemployment claims last week. Normally seasonal adjustments help smooth data, but the huge numbers during the pandemic have distorted it. First-time jobless claims peaked at 6.
Read MoreRising Covid-19 infections across the country have stalled the reopening of the economy and have made it harder for people to return to work. In addition, money from government's paycheck protection program, which allowed companies to hire back workers, is running out.Continuing claims for benefits, which count people who have applied for government aid for at least two weeks in a row, came in at 16.
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