About 400,000 Workers Filed For Unemployment Last Week

 

The Labor Department released its weekly unemployment statistics on Thursday. It showed that an additional 400,000 workers filed for unemployment benefits in the week ending on July 24th. That's a slight decrease from the previous week, but still about twice as high as it should be in a healthy economy. It's just more evidence that the pandemic is still affecting the economy.

Here is the official Labor Department statement:

In the week ending July 24, the advance figure for seasonally adjusted initial claims was 400,000, a decrease of 24,000 from the previous week's revised level. The previous week's level was revised up by 5,000 from 419,000 to 424,000. The 4-week moving average was 394,500, an increase of 8,000 from the previous week's revised average. The previous week's average was revised up by 1,250 from 385,250 to 386,500.