Nearly 1.9 million U.S. workers file first-time jobless claims in latest week
The numbers: Some 1.88 million people applied for traditional jobless benefits at the end of May and another 623,000 filed new claims under a federal-relief program, but the number of unemployed collecting government checks appears to have stabilized as more workers return to their jobs.
To give a clearer picture of unemployment, MarketWatch is also reporting select jobless claims data using actual, or unadjusted, figures. The seasonally adjusted estimates typically expected by Wall Street have inflated jobless claims during the pandemic and become less accurate. Yet the number of pandemic-related claims is not reflective of how many people are actually receiving benefits. More and more people have been returning to work as states started to reopen their economies in May. A small number of claims have also been rejected and in some cases people filed more than once.
Some 623,073 people applied for benefits in the week of May 30 using the federal government’s Pandemic Unemployment Assistance program. One caveat: Only 36 states reported those figures.
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