US weekly jobless claims hit 1.5 million, bringing the 12-week total to 44 million
has lost a job during the pandemic. It's also more than the roughly 37 million people who filed unemployment-insurance claims during the year and a half of the Great Recession.. The number of new filings has now declined for 10 straight weeks.We spoke to 3 financial experts, who broke down why you should buy these 13 ETFs to maximize stock-market returns right now
Continuing claims, which represent the aggregate total of people actually receiving unemployment benefits, were 20.9 million for the week ending May 30, down from 21.5 million in the previous report. The decline suggests that people are starting to return to work as the US economy reopens. with the May jobs report. Roughly 2.5 million jobs were added during the month, surprising economists who were forecasting millions of jobs lost.
One of the reasons economists had forecast a much worse report was they focused on initial jobless claims data that showed millions more applications for unemployment insurance but no information about how many workers were being called back to work or rehired — important pieces of the puzzle going forward.
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