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Axios reports that the US Department of Labor released new data this morning saying that 1.5 million Americans filed jobless claims last week.

According to the story, "Twelve weeks after the crisis began, new unemployment applications are still more than double the previous record number of weekly filings — set in 1982.  Continued claims, or the number of Americans continuing to receive unemployment benefits after initially applying, dipped slightly to 20.9 million from 21.2 million.

"A drop-off in this figure is a sign that a wave of workers are falling off the ranks of unemployment and possibly returning to work."

The story notes that "unemployment applications have tapered off from their peak at the start of the coronavirus pandemic, but remain at historically high rates even as states take steps to reopen and businesses start to bring workers back."