Jobless claims drop to 1.3 million, but still pose an obstacle to economic recovery

Jobless claims drop to 1.3 million, but still pose an obstacle to economic recovery

Jobless claims drop to 1.3 million, but still pose an obstacle to economic recovery
Reading Time: < 1 minute(Last Updated On: June 18, 2020)

Data from the Labor Department show the week of June 6-13 saw 1.3 million new unemployment claims, a number far higher than seen before the coronavirus took hold.

On the other hand, the huge number of jobless claims is still less than a quarter of the record-high 6.867 million unemployment claims which were made in the last week of March.

Experts say that these numbers are signs of improvement, but it still isn’t clear when the economy will be able to return to pre-COVID levels.

More on the recent unemployment rates, here.

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