Jobless claims remain higher than economists expected

411,000 unemployment claims filed last week

The number of Americans filing new unemployment claims decreased to 411,000 last week as the economy continues to recover from the coronavirus pandemic, according to the Department of Labor.

The Bureau of Labor and Statistics figure released Thursday represented a decrease in the number of new jobless claims compared to the week ending June 12, when 418,000 new jobless claims were reported. That number was revised up from the 412,000 jobless claims initially reported last week.

Economists expected Thursday’s jobless claims number to come in around 380,000, The Wall Street Journal reported.

“The overall trend is in the right direction,” Credit Union National Association senior economist Jordan van Rijn told the WSJ. “Right now, there’s a lot of demand for labor out there and it’s the workers that are a little more in the driver’s seat.”

Jobless claims have steadily dropped throughout April, May and June, hitting multiple pandemic lows as well. Claims haven’t dipped below 256,000 since March 14, 2020.

Roughly 14.9 million Americans continue to collect unemployment benefits, according to the report.