Unemployment Claims Rise as Job Market Remains Sick

Initial claims for unemployment benefits had been trending lower and last Thursday’s weekly report showed claims falling below one million for the first time since the pandemic began. Progress stumbled in the latest week, however, as claims climbed back above the one million mark. For the week ended August 15, the Department of Labor reported jobless claims rose to a seasonally adjusted 1,106,000, an increase of 135,000 from the prior week, which was revised up by 8,000.

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