The number of Americans who filed for unemployment benefits for the first time came in above one million for a second consecutive week as the economy tries to recover from the coronavirus pandemic.
Figures released Thursday by the U.S. Labor Department showed initial U.S. jobless claims totaled just over one million for the week ending Aug. 22, down from 1.104 million in the previous week. Economists polled by Dow Jones expected initial jobless claims expected claims to come in right at one million.
Last week marked the 22nd time in 23 weeks that initial claims were above one million.
Media reports circulated Thursday that Republicans are set to propose a stimulus bill that would provide roughly $500 billion in aid. However, this proposal is unlikely to gain traction in the Democrat-controlled House Speaker Nancy Pelosi has indicated she does not plan to restart negotiations until the GOP agrees to double the price tag of its existing proposal of roughly $1 trillion.
