U.S. Weekly Jobless Claims Drop To 1.542 Million

With businesses reopening following the coronavirus lockdown, the Labor Department released a report on Thursday showing a continued decrease in first-time claims for U.S. unemployment benefits in the week ended June 6th.

The report said initial jobless claims tumbled to 1.542 million, a decrease of 355,000 from the previous week’s revised level of 1.897 million.

Economists had expected jobless claims to slump to 1.550 million from the 1.877 million originally reported for the previous week.

Jobless claims declined for the tenth straight week after reaching a record high of 6.867 million in the week ended March 28th.

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