The data was slightly worse than expected but in line with the May unemployment report released last week, which showed the unemployment rate declining to 13.3 per cent from 14.7 per cent in April as the U.S. economy added 2.5 million jobs.
Some 1.5 million Americans applied for unemployment benefits last week even as the United States emerged from its coronavirus lockdown, the feds said Thursday.
The US Labor Department's report on Thursday is expected to show continuing claims slipped to 20 million in the week ending May 30 from 21.487 million in the prior week.
"As the COVID-19 pandemic continues to claim devastating tolls in lives and lost economic output, the elevated level of new jobless claims at 1.5 million serves as a reminder that this two-sided crisis is very much persisting", Mark Hamrick, Bankrate's senior economic analyst, said Thursday in a note. The report will follow last Friday's news of a surprise 2.5 million increase in nonfarm payrolls in May.
Lowest Daily COVID-19 Case Count Monday Since March 30
Somonauk now is reporting between six and 10 cases per Monday county data, as opposed to between one and five on Thursday. DPH Community Health employees recently started conducting contact tracing and case investigations in the community.
The latest figure from the Labor Department marked the 10th straight weekly decline in applications for jobless aid since they peaked in mid-March when the coronavirus hit hard.
However, the figure is projected to be down slightly on the 1.88 million claims filed in the previous week. Over the past 3 months, more than 44 million Americans have filed for unemployment insurance.
South Dakota has paid out $4.9 million in state benefits, in addition to $13.1 million in Federal Pandemic Unemployment Compensation, $894,000 in Pandemic Unemployment Assistance and $46,000 in Pandemic Emergency Unemployment Compensation benefits.
But despite last week's report, weekly unemployment claims remain historically high.