The labor market continues to regain some footing.
Unemployment claims across America fell below one million last week for the first time since the coronavirus pandemic struck in March. While the number of unemployed Americans remains high, it is the fourth straight week where overall unemployment numbers came down.
New applications for unemployment benefits dropped to a seasonally adjusted 953,000 in the week ending August 8, the Labor Department reported. The percentage of people collecting benefits through state programs, which cover the majority of workers, also decreased to about 10.6 percent at the beginning of August.
As the Lord Leads, Pray with Us…
- For Americans who remain jobless.
- For businesses trying to re-open amid local governmental restrictions.
- For an end to the coronavirus pandemic.
Sources: Wall Street Journal, Reuters
