The US Labor Department on Thursday reported fewer than one million new weekly claims for unemployment benefits for the first time since the coronavirus pandemic struck in March.
The insured unemployment rate also dropped 0.4 percentage points to 10.6% in the week ended Aug 1, the latest week such data was available. The data comes as Democratic lawmakers in Congress negotiate with President Donald Trump's administration over a follow-up to the US$2.2 trillion CARES Act rescue package passed as the pandemic hit.
All told, nearly 28.3 million people were receiving some form of government aid in the week ended July 25, down more than three million from the week prior.
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