ICYMI: U.S. weekly jobless claims hit 6.6 million, vs. 5 million expected.
The most recent jobless number represents a decline of 261,000 from the previous week, which was revised up by 219,000 to nearly 6.9 million.
California, New York and Michigan saw the largest increase in claims last week. Those states are also among the hardest hit from the coronavirus pandemic. Most of that employment decline came in restaurants and drinking establishments, although health care and social assistance also took a hit. A more representative number of the actual impact to employment came through the Labor Department's survey of households, which indicated a drop of nearly 3 million from the employment ranks.
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