US jobless claims jump back above 1 million in face of virus
The number of laid-off workers seeking initial U.S. unemployment benefits rose to 1.1 million last week after two weeks of declines, evidence that many employers are still slashing jobs as the coronavirus bedevils the U.S. economy.
The latest figures suggest that more than five months after the viral outbreak erupted the economy is still weak, despite recent gains as some businesses reopen and some sectors like housing and manufacturing have rebounded. A rising number of people who have lost jobs say they consider their loss to be permanent.
The total number of people receiving unemployment aid declined last week from 15.5 million to 14.8 million, the government said Thursday. Those recipients are now receiving far less aid because a $600-a-week federal benefit has expired, which means the unemployed must now get by solely on much smaller aid from their states.
President Donald Trump has signed an executive order to provide $300 a week in federal unemployment aid, with money drawn from a disaster relief fund. Twenty-five states have said they will apply for the federal money, though they would need to revamp their computer systems to do so. Other states are still considering whether to take that step; two have said they won’t.
— Associated Press