About 790,000 people filed for unemployment benefits for the first time in the week ending September 12, the Labor Department said Thursday.
It's the first time in six months that initial unemployment claims were below 800,000.
"Today's decline in initial unemployment claims (non-seasonally adjusted) is a small bright spot, snapping a four week streak of upticks.
"[D]ata on unemployment insurance claims indicate that job growth will be slower through the rest of 2020 and that full recovery in the labor market will take years," Gus Faucher, chief economist at PNC, said in a note. .
An extra $600 in weekly unemployment benefits ended July 31, squeezing households that had depended on the beefed-up payments.
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