All posts tagged: US lockdown

US weekly unemployment claims drop below 1 million

The US economic recovery is ahead of schedule. For the first time since the coronavirus lockdowns began, the number of people making unemployment claims fell below the one million mark, on a weekly measure. The Daily Wire explains: During the week ending on Aug. 8, roughly 963,000 workers filed unemployment claims, according to data released by the Department of Labor on Thursday. The number came in lower than expected as economists predicted that claims numbers would remain about the 1 million mark, according to Fox Business. […] The better than expected unemployment report is another sign that the U.S. economy may be on the path to recovery despite fears of a second wave of the disease and some states re-imposing strict lockdown orders to slow the spread of the coronavirus. The unemployment rate peaked at 15% in April but fell to 10.2% in July. READ: Weekly Unemployment Claims Beat Expectations, Fall Under 1M For First Time Since Pandemic Began