U.S. weekly jobless claims total 1 million, as expected
People wear their face masks waiting in line for an emergency food distribution at the 88th Street Temple Church of God in Christ on April 14, 2020 in Los Angeles, California, during the coronavirus pandemic.
Frederic J. Brown | AFP | Getty Images
The number of Americans who filed for unemployment benefits for the first time came in above 1 million for a second consecutive week as the economy tries to recover from the coronavirus pandemic, the Labor Department said Thursday.
Initial U.S. jobless claims totaled just over 1 million for the week ending Aug. 22. Economists polled by Dow Jones expected initial jobless claims, down from 1.104 million in the previous week.
Thursday’s report follows a mixed batch of economic data. Durable goods orders for July surged by 11.2% last month while sales of new homes were up 36% last month. However, consumer confidence fell in August for a second straight month.
Wall Street is also keeping an eye on the unemployment data as lawmakers have yet to move forward on a new coronavirus stimulus package.
This is breaking news. Please check back for updates.
Subscribe to CNBC PRO for exclusive insights and analysis, and live business day programming from around the world.
