First time unemployment claims topped one million for the 20th consecutive week, with the Department of Labor reporting 1.186 million claimants for the week ending August 1st. The figure is the first time in three weeks the number has decreased.
This week’s report shows a decrease of 249,000 in first time unemployment claims from the previous week. Currently, more than 31 million Americans are receiving unemployment benefits.
The seasonally-adjusted insured unemployment rate–the percentage of people in the workforce who are receiving unemployment benefits–was 11.0% for the week ending July 26th.