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U.S. Initial Unemployment Claims Drop for Third Week in a Row

Published 08/12/2021, 08:32 AM
Updated 08/12/2021, 08:36 AM
© Bloomberg. MIAMI, FLORIDA - FEBRUARY 04: A 'Now Hiring' sign is posted in front of a Popeye's restaurant on February 04, 2021 in Miami, Florida. The Labor Department announced weekly unemployment claims declined to 779,000 last week. (Photo by Joe Raedle/Getty Images)

(Bloomberg) -- Applications for U.S. state unemployment benefits dropped for the third week in a row, another incremental highlight in the labor market’s recovery.

Initial unemployment claims in regular state programs totaled 375,000 in the period ended Aug. 7, down 12,000 from the prior week, Labor Department data showed Thursday. The median estimate in a Bloomberg survey of economists called for 375,000 new applications.

Continuing claims for state benefits fell to 2.9 million in the week ended July 31.

Jobless claims have been largely falling this year as a pickup in economic activity strengthens business conditions and leads to a record number of job openings. While initial claims are broadly expected to continue declining in the coming months, the spreading delta variant poses a risk to the pace of recovery.

©2021 Bloomberg L.P.

© Bloomberg. MIAMI, FLORIDA - FEBRUARY 04: A 'Now Hiring' sign is posted in front of a Popeye's restaurant on February 04, 2021 in Miami, Florida. The Labor Department announced weekly unemployment claims declined to 779,000 last week. (Photo by Joe Raedle/Getty Images)

Latest comments

It's pedal to the metal for the pre-market fraud.  The only "market" in history that sees no profit taking, only "rally" after "rally" to new records.  When there is a loss, it miraculously vanishes intraday, or the day after it occurs.  Welcome to the US Ponzi Scheme.  Charles Ponzi himself would cry tears of joy if he could see the ultimate incarnation of his work in action on the world stage.  Fraudulent, criminally manipulated joke.
Go away we all know you are bitter about your shorts losing big you don't care about economy
All your heavy losses are my profit thanks
Unemployment falls right around when bonus checks end, shocker.
rigged statistics tells nothing. everything is government controlled at this point. they write the rules of this game..
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