The Labor Department released its weekly unemployment statistics on Thursday. It showed that another 360,000 workers filed for unemployment benefits in the week ending on July 10. That is the lowest number since before the Trump recession started, but it is still too high.
Here is the official Labor Department statement:
In the week ending July 10, the advance figure for seasonally adjusted initial claims was 360,000, a decrease of 26,000 from the previous week's revised level. This is the lowest level for initial claims since March 14, 2020 when it was 256,000. The previous week's level was revised up by 13,000 from 373,000 to 386,000. The 4-week moving average was 382,500, a decrease of 14,500 from the previous week's revised average. This is the lowest level for this average since March 14, 2020 when it was 225,500. The previous week's average was revised up by 2,500 from 394,500 to 397,000.