Weekly initial claims for unemployment benefits totaled 840,000 last week, marking a decline from the previous week while remaining higher than economists expected, a sign that the coronavirus pandemic continues to weigh heavily labor market.

Economists had projected a total of 825,000 new jobless claims for last week.

However, last weekโ€™s total was still lower than the 849,000 initial claims logged the previous week, which was revised upwards, and is the lowest level of first-time claims since lockdowns in March forced businesses to lay off workers and in many cases shutter permanently.