US Unemployment Claims Rise for First Time in Nearly 4 Months

US Unemployment Claims Rise for First Time in Nearly 4 Months

US Unemployment Claims Rise for First Time in Nearly 4 Months Thursday's report from the Department of Labor revealed that last week's claims exceeded 1.4 million.

Claims two weeks prior had remained close to 1.3 million.

The majority of new claims were filed by those who do not usually qualify for unemployment, including freelancers and part-time workers.

Economists say that a rise in unemployment this deep into the COVID-19 crisis "suggests that the nature of the downturn has changed from early on." Many states have rolled back reopening measures, as spikes in coronavirus cases have been reported.

Economists warn that it's possible unemployment will continue to rise in the coming months.

Rubeela Farooqi, Economist, via 'NYT'