New jobless claims at 1.4 million last week

New unemployment claims totaled 1.4 million last week, the Labor Department reported Thursday. The number was slightly lower than the anticipated figure, but only by about 20,000.

In mid-July, the number of people receiving unemployment benefits was rough 30 million. Last week, the jobless numbers also topped 1.4 million. This is the 19th week in a row that first time claims have exceeded more than a million. 

Also expected today is the second-quarter GDP report, which will provide a more detailed understanding of the toll the virus has taken on the U.S. economy during shutdowns.

Capitol Hill lawmakers continue to debate another coronavirus relief package. The Democrats have passed their version of the bill through the House, but the Republicans seem hung up on some intra-party disagreements. 

Treasury Secretary Steve Mnuchin and White House Chief of Staff Mark Meadows have been on the hill conversing with Republicans and Democrats about the details of the new package. Meadows reportedly feels comfortable shutting down some of the Democrats' ideas, while Mnuchin, who worked closely with Speaker of the House Nancy Pelosi on the last round of deals, hopes to interface with the Democrats and have a productive negotiation.