US weekly jobless claims hit 2.4 million, bringing the 9-week total to nearly 39 million

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US jobless claims for the week ending May 16 totaled 2.4 million, the Labor Department said Thursday. That matched the median economist estimate of 2.4 million claims.  That raises the nine-week total to nearly 39 million. It’s the seventh week in a row in which claims have declined but remained historically elevated. “Each week of such high claims is a disaster in its own right,” said Ian Shepherdson, chief economist at Pantheon Macroeconomics. Visit Business Insider’s homepage for more stories.

The number of Americans who have filed for unemployment insurance during the coronavirus pandemic has continued to

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