963,000 Workers Filed For Unemployment Last Week

The Labor Department has realized its statistics for the number of workers filing for unemployment benefits for the week ending on 8/8/20. It shows that 963,000 workers filed last week. That was the first time in 21 weeks that the number of workers filing was under1,000,000 -- and it was just barely under that number. The economy remains in deep trouble.

Here's the Labor Department's official statement:

In the week ending August 8, the advance figure for seasonally adjusted initial claims was 963,000, a decrease of 228,000 from the previous week's revised level. The previous week's level was revised up by 5,000 from 1,186,000 to 1,191,000. The 4-week moving average was 1,252,750, a decrease of 86,250 from the previous week's revised average. The previous week's average was revised up by 1,250 from 1,337,750 to 1,339,000.