Economy

U.S. weekly jobless claims total 860,000, vs 875,000 expected

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First-time claims for unemployment insurance beat Wall Street estimates last week as the U.S. economy enters a critical new stage.

Filings totaled 860,000 for the week ended Sept. 12, the Labor Department reported Thursday. Economists surveyed by Dow Jones had expected 875,000, against the previous week’s upwardly revised 893,000.

The number represents a modest downshift in claims, which had hit a peak of 6.9 million in late March as the economy shut down to try to slow the coronavirus pandemic. Since then, the labor market has recovered though millions remain displaced from job closures associated with the virus measures.

The beat on claims had little impact on financial markets, with Wall…

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Source cnbc.com

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