U.S. Weekly Jobless Claims Still up, But Pace Slows

It's still gloomy news on the employment front south of the border.

Figures released by the U.S. Labor Department showed first-time filings for unemployment insurance totaled 2.44 million last week as the tail effects of the coronavirus shutdown continued to impact the U.S. jobs market.

Economists surveyed by Dow Jones had been looking for 2.4 million claims.

The seasonally-adjusted total, while still well above anything the nation had seen in pre-coronavirus America, represents the seventh straight week of a declining pace following the record peak of 6.9 million in late March.

In addition, a review from last week brought the number down substantially, from 2.98 million to 2.69 million. In the nine weeks since the coronavirus-induced lockdown has closed large parts of the U.S. economy, some 38.6 million workers have filed claims.