First-time claims for U.S. unemployment benefits pulled back further off their recent record high in the week ended May 30th, according to a report released by the Labor Department on Thursday.
The report said initial jobless claims tumbled to 1.877 million, a decrease of 249,000 from the previous week’s revised level of 2.126 million.
Economists had expected jobless claims to slump to 1.800 million from the 2.123 million originally reported for the previous week.
Jobless claims pulled back further off the record high of 6.867 million set in the week ended March 28th, although the number of new claims since the [coronavirus][1] lockdowns now exceeds 42.6 million.
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