New jobless claims decline but stay above 1 million


The number of new jobless claims in the United States has surpassed one million for yet another week.
The Labor Department on Thursday said that just over one million more Americans filed initial unemployment claims last week, down from about 1.1 million the week prior, CNBC reports. Continuing claims declined to 14.5 million. Before the coronavirus pandemic, the most jobless claims filed in a week on record was 695,000.
This came after last week, the number of new jobless claims unexpectedly rose above one million after previously dipping below that threshold, leading to concerns among experts that the numbers were "trending in the wrong direction." Though the number declined this week, this is the 22nd time in 23 weeks that there were more than one million jobless claims, CNBC notes, and The Washington Post's Heather Long wrote that this latest report shows that there are still "an alarming number of people" out of work.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
"We're chipping away at the losses in terms of the number of jobs and some of the weaknesses there," Wells Fargo Securities economist Sarah House told The Wall Street Journal, "but there's still a long ways to go." Indeed economist AnnElizabeth Konkel also told the Journal, "It's massively concerning that five months into this crisis we are still seeing those levels. It's just really pointing to how much economic pain there is right now, and I don't really expect that to change anytime soon."
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Brendan worked as a culture writer at The Week from 2018 to 2023, covering the entertainment industry, including film reviews, television recaps, awards season, the box office, major movie franchises and Hollywood gossip. He has written about film and television for outlets including Bloody Disgusting, Showbiz Cheat Sheet, Heavy and The Celebrity Cafe.
-
AI is creating a luxury housing renaissance in San Francisco
Under the Radar Luxury homes in the city can range from $7 million to above $20 million
-
How carbon credits could help and hurt the climate
The explainer The credits could be allowing polluters to continue polluting
-
5 tips for building a healthy skincare routine for tweens and teens
The Week Recommends Social media is pushing overly elaborate routines for young skin
-
Economists fear US inflation data less reliable
speed read The Labor Department is collecting less data for its consumer price index due to staffing shortages
-
Crypto firm Coinbase hacked, faces SEC scrutiny
Speed Read The Securities and Exchange Commission has also been investigating whether Coinbase misstated its user numbers in past disclosures
-
Starbucks baristas strike over dress code
speed read The new uniform 'puts the burden on baristas' to buy new clothes, said a Starbucks Workers United union delegate
-
Warren Buffet announces surprise retirement
speed read At the annual meeting of Berkshire Hathaway, the billionaire investor named Vice Chairman Greg Abel his replacement
-
Trump calls Amazon's Bezos over tariff display
Speed Read The president was not happy with reports that Amazon would list the added cost from tariffs alongside product prices
-
Markets notch worst quarter in years as new tariffs loom
Speed Read The S&P 500 is on track for its worst month since 2022 as investors brace for Trump's tariffs
-
Tesla Cybertrucks recalled over dislodging panels
Speed Read Almost every Cybertruck in the US has been recalled over a stainless steel panel that could fall off
-
Crafting emporium Joann is going out of business
Speed Read The 82-year-old fabric and crafts store will be closing all 800 of its stores