The Labor Department released its weekly unemployment statistics on Thursday. It showed that 412,000 workers filed for unemployment benefits in the week ending on June 15th. That's an increase of 37,000 over the previous week, and marks the first time in six weeks that the number filing has not decreased. The recession is not over, and it won't be until enough Americans are vaccinated to reach herd immunity.
Here is the official Labor Department statement:
In the week ending June 12, the advance figure for seasonally adjusted initial claims was 412,000, an increase of 37,000 from the previous week's revised level. The previous week's level was revised down by 1,000 from 376,000 to 375,000. The 4-week moving average was 395,000, a decrease of 8,000 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 500 from 402,500 to 403,000.
