Less Than 1 Million Americans Filed For Unemployment Last Week

The video discusses the recent drop in jobless claims to 963,000, marking the first time in months that claims have fallen below 1 million. Economists were surprised by this development, as they expected around 1.1 million claims. Despite the positive trend, the number remains high compared to the Great Recession. Concerns persist about the virus's impact and the need for economic relief. The video also covers the national debt, which increased by $2.81 trillion between October and July. The Treasury reported a $63 billion increase in July, the lowest monthly rise in that period. Tax revenue was higher in July due to delayed tax deadlines. Fed Chair Jerome Powell emphasized that the deficit should not be the primary concern during the crisis, as the Fed has tools to support the economy.

What was the number of jobless claims filed last week, marking a significant decrease?

• 1.1 million

• 963,000

• 666,000

• 1 million

How did economists react to the recent jobless claims numbers?

• They predicted the exact number of claims.

• They were surprised as they expected around 1.1 million claims.

• They expected a decrease to 500,000.

• They were indifferent to the numbers.

What is a major concern for economists regarding the labor market?

• The increase in job opportunities.

• The potential reversal of the slowdown in jobless claims.

• The stability of the stock market.

• The rapid recovery of the economy.

How much was added to the national deficit between October and July?

• $1 trillion

• $2.81 trillion

• $3 trillion

• $500 billion

What did Fed Chair Jerome Powell say about the deficit during the crisis?

• It will resolve itself.

• It is not significant.

• Now is not the time to worry about it.

• It should be the top priority.