Jobless Claims Remain High as Summer Recovery Continues

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The Labor Department reported that 385,000 Americans filed new claims for state unemployment benefits. This is the lowest level for initial claims since March 14, 2020, when it was 256,000. The median estimate from economists surveyed by Bloomberg was for a decline to 383,000 claims. The previous week’s level was revised down by 1,000 from 400,000 to 399,000. The four-week moving average was 394,000, a decrease of 250 from the previous week’s revised average. The previous week’s average was revised down by 250 from 394,500 to 394,250.

More than 2.9 million Americans are still on traditional state unemployment benefits as the

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