Author Topic: Jobless claims rise to 1.1M, signaling setback to pandemic recovery  (Read 1662 times)

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Offline mystery-ak

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Jobless claims rise to 1.1M, signaling setback to pandemic recovery
by Jay Heflin, Business Editor |
 | August 20, 2020 08:33 AM

The number of new applications for unemployment benefits last week rose to 1.1 million, the Labor Department reported Thursday, exceeding forecasters' expectations and signaling that layoffs are still very high and may be picking up pace.

The number of weekly claims is extremely high by historical standards. Weekly jobless claims had hovered near 200,000 prior to the pandemic.

There was some modest good news in Thursday's report, though: The total number of people claiming benefits in all programs for the week ending Aug. 1 fell by nearly 200,000 to 28 million.

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https://www.washingtonexaminer.com/news/jobless-claims-increased-to-1-1-million-last-week
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