Jobless Claims Are Down This Week, but Don't Get Too Excited About That

The COVID-19 outbreak has spurred an unprecedented unemployment crisis that's left millions of Americans out of a job. Initially, it seemed as though things were going to get better during the summer as the economy opened back up, but then in mid-to-late July, weekly jobless claims rose for two weeks in a row.

Thankfully, August brought some better news: New unemployment claims totaled 1.86 million this past week, which is actually the lowest number, on a weekly basis, since the start of the pandemic. The last time weekly claims were that low was back in mid-March, when the U.S. was only first starting to understand what impact COVID-19 would ultimately have.

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Source Fool.com