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The number of Americans filing for new claims for unemployment benefits unexpectedly rose for a 2nd straight week to
The number of Americans filing new unemployment claims unexpectedly increased for the second consecutive week to 351K in the week ending September 18th, far exceeding market expectations of 320K.
It is the highest reading in four weeks, indicating that the coronavirus delta variant is still wreaking havoc on the economic recovery.
California (24.2K, not seasonally adjusted), Virginia (12.9K), and Ohio (3.5K) saw the largest increases in initial claims, while Louisiana saw a 7.3K decline.
It is also the second reading following the expiration of enhanced unemployment benefits on September 6th, which included a $300 weekly supplement to regular state benefits from government pandemic aid.
Meanwhile, continuing jobless claims increased to 2.845 million, exceeding expectations of 2.650 million.
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