Many more likely sought jobless aid as virus surges back
AP Economics Writer | Hagadone News Network | UPDATED 5 years, 5 months AGO
WASHINGTON (AP) — The U.S. government will provide its latest snapshot Thursday of the layoffs that have remained stuck at an elevated weekly pace above 1 million since the coronavirus erupted in March even as newly re-opened businesses have rehired some workers.
Though the weekly toll of job cuts has gradually dropped, the pace of improvement has essentially stalled as companies continue to shed workers. A resurgence of confirmed viral cases is threatening to derail what had looked like the start of an economic recovery.
In June, employers added a substantial 4.8 million jobs, and the unemployment rate fell from 13.3% to a still-high 11.1%. But the economy and the job market will likely struggle to sustain their gains amid the surge in reported infections, which threaten to trigger more shutdowns and layoffs. In recent days, Levi’s has announced 700 corporate job cuts, and United Airlines has warned of potentially thousands of layoffs this fall.
ARTICLES BY AP ECONOMICS WRITER
US layoffs still high, but so is skepticism on jobless data
WASHINGTON (AP) — The number of Americans seeking unemployment benefits dipped last week to a still-high 840,000, evidence that layoffs remain elevated seven months into the pandemic recession.
US layoffs still high, but so is skepticism on jobless data
WASHINGTON (AP) — The number of Americans seeking unemployment benefits dipped last week to a still-high 840,000, evidence that layoffs remain elevated seven months into the pandemic recession.
US layoffs still high, but so is skepticism on jobless data
WASHINGTON (AP) — The number of Americans seeking unemployment benefits dipped last week to a still-high 840,000, evidence that layoffs remain elevated seven months into the pandemic recession.