1.3 Million Workers File for New Unemployment Benefits

Roy Maurer By Roy Maurer July 16, 2020
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​States reported that 1.3 million U.S. workers filed for new unemployment benefits during the week ending July 11. First-time claims have fallen for 15 straight weeks since hitting a record 6.8 million in late March. The total number of workers continuing to claim unemployment benefits dropped to 17 million last week after peaking at nearly 25 million in early May. Another 14 million people continue to claim unemployment under the newly created Pandemic Unemployment Assistance program providing jobless benefits to workers previously not eligible for unemployment.

The U.S. economy showed positive job gains for the second straight month in June, adding 4.8 million jobs, and the unemployment rate fell to an adjusted 12 percent from 16.4 percent in May. But it will be important to monitor data from states like Arizona, California, Texas and Florida in the weeks ahead, where a recent surge in coronavirus cases has led to a second round of business closures.

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