NEW: 1,800,000 Americans filed for first-time jobless benefits last week; 42,000,000 have sought unemployment assistance since mid-March. - (tweet reissued to correct link)
Around 1.8 million Americans filed for first-time jobless benefits last week, hinting that the worst could be over for the labor market.
While still a staggering figure, it continues a downward trend for the unemployment claims that have illustrated week by week the devastating impact of the coronavirus pandemic. The jobless claims data, released Thursday by the Department of Labor, was in line with economists' expectations of 1.8 million for the week ended May 30.
The stock market traded lower in premarket activity Thursday morning after the figures were released. All three major averages as confidence mounts that the gradual reopening of the economy will spur consumer spending and get the country back on track.Sign Up
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Protesters Form Human Chain Around N.Y.C. Target Store to Prevent LootingVideo shows more than a dozen protestors protecting the Brooklyn store from potential looters
Read more »
See George Floyd Protest Photos From Around the U.S.See photos from protests against police brutality from all around the U.S.
Read more »
Adele Says George Floyd Killing 'Sent Shockwaves Around the World''I wholeheartedly stand in solidarity with the fight for freedom, liberation and justice,' the singer said
Read more »
All of the Moving Photos from George Floyd's Memorial in Minnesota & Around the WorldMemorial sites have been created by those mourning the death of the 46-year-old, who was killed on May 25, 2020
Read more »
Experts Fear Mass Protests May Cause New Coronavirus Outbreaks Around The U.S.Protests over George Floyd's death continue sweeping across the U.S., creating new dangers. Public health experts fear the coronavirus could begin erupting in new outbreaks around the country.
Read more »
How to Protect Yourself (and Those Around You) During a Protest in a PandemicCrisis and health experts share the resources you need to protect yourself physically, emotionally, and legally.
Read more »