Jobless claims rise for second straight week, remain above 1 million


Initial jobless claims rose last week by 12,000 to a total of more than 1.4 million, the US Department of Labor announced today. The four-week moving average of claims rose by 6,000 to a total of 1.4 million.

CNBC reported initial jobless claims had risen for the second straight week. It was also the 19th straight week in which initial claims totaled at least 1 million.

“The level of claims still remaining elevated and the rise in continuing claims definitely reflects the reclosings over the past few weeks [that] we’ve seen in some states where the virus has flared up in,” Peter Boockvar, chief investment officer at Bleakley Advisory Group, told CNBC.