Jobless Claims Decline
Washington, DC, June 11, 2020-The U.S. Department of Labor says the number of Americans seeking unemployment in the last week has dropped to 1.5 million, down from 1.87 million the previous week, but millions continue to seek benefits.
In the week ending June 6, the advance figure for seasonally adjusted initial claims was 1.54 million, a decrease of 355,000 from the previous week's revised level, according to the Department of Labor.
The previous week's level was revised up by 20,000 from 1.87 million to 1.89 million. The four-week moving average was 2 million, a decrease of 286,250 from the previous week's revised average. The previous week's average was revised up by 4,250 from 2.284 million to 2.288 million.
The advance seasonally adjusted insured unemployment rate was 14.4% for the week ending May 30, a decrease of 0.2 percentage point from the previous week's revised rate.
At its peak, more than 6.8 million Americans filed unemployment in March related to the virus-induced shutdown, according to a Reuters report. Currently, more than 20 million people are claiming benefits.
Read the full report here.