The weekly jobless claims report from the Labour Department today would suggest the worst is over for the labour market, combined with data yesterday that showed a smaller-than-expected drop in private payrolls in May. — Reuters pic

WASHINGTON, June 4 — The number of Americans filing for unemployment benefits likely dropped below 2 million last week for the first time since mid-March, but remains astonishingly high as companies adjust to an environment that has been significantly changed by Covid-19.