Next week's May jobs report is forecast to show an unemployment rate of around 20%, the highest since the Great Depression. (Photo: Andrew Harrer/Bloomberg)
(Bloomberg) –U.S. states' jobless rolls shrank for the first time during the coronavirus pandemic in a sign people are starting to return to work, even as millions more Americans filed for unemployment benefits.
Continuing claims, which tally Americans' ongoing benefit claims in state programs, fell to 21.1 million for the week ended May 16, Labor Department figures showed Thursday. Those data are reported with a one-week lag. That suggests the job market is starting to rebound as businesses reopen. Analysts had expected an increase in continuing claims.
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