June 4, 2020
The economy may be slowly re-opening from the coronavirus pandemic, but people are still out of work. New weekly labor statistics from the federal government says 1.87 million people filed jobless claims for the week ended May 30. That was about 250,000 fewer claims filed from the week period. More than 43 million people have filed claims during the 11-week coronavirus pandemic.
The previous week’s unemployment claim level was revised up by 3,000 from 2.123 million to 2.126 million. The four-week moving average was 2.284 million, a decrease of 324,750 from the previous week’s revised average.
The nation’s unemployment rate stands at 14.8%, up 0.5% from the previous week.
“It’s a sign that things are not getting as worse as they were before,” said Nick Bunker, economic research director at Indeed Hiring Lab, told The Washington Post. “We have seen a reduction in the pace of people becoming jobless. So that’s positive. But we’re still seeing claims at astronomical levels than what we saw before this crisis.”