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US weekly jobless claims seen falling; consumer prices expected to rise further | Money


Thursday, 10 Jun 2021 12:52 PM MYT
People gather at the entrance for the New York State Department of Labor offices, which are closed to the public due to the Covid-19 outbreak in the Brooklyn borough of New York March 20, 2020. ― Reuters pic
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WASHINGTON, June 10 ― The number of Americans filing new claims for unemployment benefits likely fell last week to the lowest level in nearly 15 months, while consumer prices increased further in May as the pandemic s easing grip on the economy continues to boost demand.
The Labour Department is likely to report today that initial claims for state unemployment benefits totaled a seasonally adjusted 370,000 for the week ended June 5, compared to 385,000 in the prior week, according to a Reuters survey of economists. ....

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US jobless claims rise to 719,000 as coronavirus still forces layoffs


The number of Americans applying for unemployment benefits rose by 61,000 last week to 719,000, signalling that many employers are still cutting jobs even as more businesses reopen, vaccines are increasingly administered and federal aid spreads through the economy.
The Labour Department said Thursday that the number of claims increased from 684,000 the week before. Though the pace of applications has dropped sharply since early this year, they remain high by historical standards: Before the pandemic flattened the economy a year ago, jobless claims typically ran below 220,000 a week.
All told, 3.8 million people were collecting traditional state benefits during the week ending March 20. If you include federal programs that are meant to help the unemployed through the health crisis, 18.2 million people were receiving some type of jobless aid in the week that ended March 13. That s down from 19.7 million in the previous week. ....

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