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US new weekly jobless claims fall below 2 million for first time since March

Most recent data suggests the worst is over for the labour market

Published Thu, Jun 4, 2020 · 09:50 PM
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Washington

THE number of Americans filing for unemployment benefits dropped below two million last week for the first time since mid-March, but remains astonishingly high as companies adjust to an environment that has been significantly changed by Covid-19.

New claims for state unemployment benefits totalled a seasonally adjusted 1.877 million for the week ended May 30, down from 2.126 million the prior week, the Labor Department reported on Thursday. Economists had forecast 1.…

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