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.

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