Jobless claims climb 1.88 million at end of May, but there’s growing signs unemployment is peaking

Source: Market Watch

The numbers: Some 1.88 million people applied for traditional jobless benefits at the end of May and another 623,000 filed new claims under a federal-relief program, but the number of unemployed collecting government checks appears to have stabilized as more workers return to their jobs.

Initial jobless claims have slowly tapered off since peaking at almost 7 million in late March.

More important, so-called continuing jobless claims continued to stabilize after a historic surge.

Economists polled by MarketWatch had forecast a seasonally adjusted 1.8 million new claims filed through state unemployment offices.

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