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Thu Jul 9, 2020, 10:24 AM

Layoffs stuck at high level as 1.3 million seek jobless aid

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Source: AP News

WASHINGTON (AP) — More than 1.3 million Americans applied for unemployment benefits last week, a historically high pace that shows that many employers are still laying people off in the face of a resurgent coronavirus.

The persistently elevated level of layoffs are occurring as a spike in virus cases has forced six states to reverse their move to reopen businesses. Those six — Arizona, California, Colorado, Florida, Michigan and Texas — make up one-third of the U.S. economy. Fifteen other states have suspended their re-openings. Collectively, the pullback has stalled a tentative recovery in the job market and is likely triggering additional layoffs.

Thursday’s report from the Labor Department showed that the number of applications for unemployment aid fell from 1.4 million in the previous week. The figure has now topped 1 million for 16 straight weeks. Before the pandemic, the record high for weekly unemployment applications was fewer than 700,000.



Read more: https://apnews.com/a80c9dc5d83dfa2e0dd3e5a499c09d92?utm_medium=AP&utm_source=Twitter&utm_campaign=SocialFlow

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Reply Layoffs stuck at high level as 1.3 million seek jobless aid (Original post)
brooklynite Jul 9 OP
progree Jul 9 #1

Response to brooklynite (Original post)

Thu Jul 9, 2020, 10:43 AM

1. Good discussion at this earlier LBN story

U.S. weekly jobless claims stay elevated; labor market improvement stalling
https://www.democraticunderground.com/10142533601

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