US unemployment claims rise by 1.5 million as pandemic pain continues
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Source: The Guardian
The massive wave of US layoffs in the wake of the coronavirus pandemic continued last week, with another 1.5 million people filing for unemployment benefits despite US-wide reopenings and signs of improvement in the economy.
Over the past three months, more than 45 million people have filed initial unemployment claims as businesses have closed their doors and consumers have gone into lockdown.
Last week’s layoffs were just 58,000 below the previous week’s level, which was revised up by 24,000 to 1.56m.
The pace of layoffs has slowed sharply since their peak in the week ending 4 April when a stunning 6.6 million people filed claims. But they remain historically high. Before the Covid-19 downturn, the record number of claims for one week was 695,000 in October 1982.
Read more: https://www.theguardian.com/business/2020/jun/18/us-unemployment-claims-rise-coronavirus-economy-latest
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And while this is going on guess who is sitting on the Heroes Act bill...................#Moscow Mitch
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