The number of people filing for unemployment benefits last week was greater than expected, raising concern about the state of the economy as lawmakers struggle to move forward on a new pandemic stimulus package.
The Labor Department said Thursday that initial jobless claims for the week ended Aug. 15 came in at 1.106 million. Economists polled by Dow Jones expected a total of 923,000.
Initial claims for the previous week were also revised higher by 8,000 to 971,000. Last week marked the first time in 21 weeks that initial claims came in below 1 million.
BREAKING: U.S. weekly jobless claims total 1.106 million, vs 923,000 expected https://t.co/U2FDcBekA3
— CNBC Now (@CNBCnow) August 20, 2020