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
Add BT as a preferred sourceWashington
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 1.8 million initial claims in the latest week.
TRENDING NOW
On the board but frozen out: The Taib family feud tearing Sarawak construction giant apart
SingPost to keep, enhance SingPost Centre in U-turn from plan to sell it
That ‘cheap’ Malaysia condo could cost Singapore buyers far more than they think
Shedding the iconic ‘Cycle & Carriage’ will be a loss – but perhaps a necessary one for Jardine
