Unemployment Claims Staying Around 400,000 a Week

Claims for initial unemployment benefits remained above 400,000 for the 8th week in a row, indicating that employment remains weak and a robust recovery has yet to appear. The 422,000 claims for the week ending May 28 were above the expectations of 413,000 claims. The 400,000 level is significant, because unemployment rates generally don’t improve when initial claims are holding above 400,000. Ongoing claims were nearly unchanged for the week ending May 21, dropping 1,000 to 3,711,000.

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Unemployment claims top 400,000 for 8th straight week