The trend in unemployment claims is bearish

US Unemployment Claims Fall Below 1 Million After 5 Months

Posted Thursday, August 13, 2020 by
Skerdian Meta • 1 min read

Unemployment claims surged in the US in the third week of March, increasing above 3 million, as the country shut down and then jumped higher to above 6 million for a coupe of weeks. Claims have been cooling off since then, but they have remained still quite high, despite the decline. Last week, jobless claims fell below 1 million for the first time since mid March, so the situation is getting better, but claims are still pretty high.

US Weekly Initial Jobless Claims Report

  • Weekly initial jobless claims 963K vs 1100K expected
  • Prior was 1186K (revised to 1191K)
  • Continuing claims 15486K vs 15800K expected
  • Prior continuing claims 16090K
  • PUA claims 489K vs 656K prior
  • Full report
The total number of people claiming benefits for all programs was 28,257,995, down 3065K from the prior week. This is the first time initial jobless claims were below 1 million in 21 weeks.


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