The Labor Department released its statistics for new unemployment claims on Thursday. For the week ending August 29th, about 881,000 workers filed for unemployment benefits. It marks only the second time in the last 24 weeks that less than a million new unemployment claims were filed. But it's still about four times the average claims before Trump threw the nation into recession.
Here is the official statement from the Labor Department:
In the week ending August 29, the advance figure for seasonally adjusted initial claims was 881,000, a decrease of 130,000 from the previous week's revised level. The previous week's level was revised up by 5,000 from 1,006,000 to 1,011,000. The 4-week moving average was 991,750, a decrease of 77,500 from the previous week's revised average. The previous week's average was revised up by 1,250 from 1,068,000 to 1,069,250.
