Another 3.2m Americans file for jobless claims

Another 3.2 million Americans filed for jobless claims last week, the Labor Department said Thursday.

The figure was more than the 3million projected for the week.

Till date, 33.5 million have now filed for claims in seven weeks.

According to Business Insider, it’s the fifth week in a row that new unemployment-insurance claims have fallen.

This suggests that the worst of the shock to the labour market has passed.

But claims remain elevated at a level that dwarfs the largest week of job losses during the great recession, when 665,000 Americans filed for unemployment insurance.