US Weekly Jobless Claims Rise Again

The United States saw its second consecutive weekly increase in new claims for unemployment benefits, the Labour Department said on Thursday, with 1.43 million filed.

The data for the week ended July 25 marked an increase of 12,000 from the previous week's upwardly revised level, while the insured unemployment rate rose to 11.6 percent in the week ended July 18.

The increase follows a surge in Covid-19 cases that has prompted renewed lockdown measures.

The data shows "a labour market now in stall mode," Jared Bernstein, a senior fellow at the Center on Budget and Policy Priorities said on Twitter.

The United States has seen surging weekly claims for unemployment benefits since business began locking down in mid-March to stop the spread of the coronavirus.

They peaked later that month, then began declining, before beginning their incremental climb again earlier in July at levels far higher than any seen in the worst week of the global financial crisis 12 years ago.

The latest data were worse than expected and do not include the 829,697 new claims by people who filed under a programme for those who wouldn't normally be eligible for aid.

Even as the insured unemployment rate ticked upwards, the four-week moving average in the week ended July 18 declined 17.1 million - indicating some rehiring was occurring.

The total number of people receiving benefits under all programmes as of the week ended July 11 was 30.2 million, about 1.6 million less than the prior week. (AFP)