US Jobless Claims Hit 6.6 Million; Nearly Doubling Last Week’s Record Number

This morning the Department of Labor updated the public on the number of initial jobless claims with a seasonally adjusted initial claims figure of 6,648,000; an increase of 3,341,000 from the previous week’s revised level.

Source: Department of Labor

This marks the highest level of seasonally adjusted initial claims in the history of the seasonally adjusted series. The previous week’s level was revised up by 24,000 from 3,283,000 to 3,307,000. The 4-week moving average was 2,612,000, an increase of 1,607,750 from the previous week’s revised average. The previous week’s average was revised up by 6,000 from 998,250 to 1,004,250.

A full copy of the Department of Labor’s release can be found here.

Information for this briefing was found via the Department of Labor. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.