Initial jobless claims fall for sixth straight week, but total still high


Last week, more than 2.98 million Americans filed initial claims for unemployment insurance, a decline of 195,000 from the previous week, according to seasonally adjusted data from the US Department of Labor. But the numbers are still at high levels.

In Connecticut, claims rose by 262,542 on a non-seasonally adjusted basis in the week ended May 9. However, some states cited large declines from the previous week. The number of jobless claims in California fell by 102,229 and in Texas, jobless claims fell by 102,263.

CNBC reported claims have declined for the sixth-straight week; however, some 36 million initial claims have been filed since early March. “The numbers … are still alarming of course but with more reopenings occurring in the coming months they should continue to recede,” Peter Boockvar, chief investment officer at Bleakley Advisory Group, told CNBC.