In some positive news, the US Department of Labor reported that weekly jobless claim numbers fell below 1 million for the week of August 2-8, to 963,000. This marks a decrease of 228,000 from the previous week's revised level. Prior to the pandemic, the record had been 695,000 in 1982. Here is a comparison of the numbers from Bloomberg:
Initial jobless claims, week ended Aug. 8: 963,000 vs. 1.1 million expected and 1.191 million during the prior week
Continuing claims, week ended Aug. 1: 15.486 million vs. 15.8 million expected and 16.107 million during the prior week
The claim numbers, while promising, seem to be flattening instead of falling at the steady clip they were from May into early June.