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Many more likely sought jobless aid with layoffs still high

AP Economics Writer | Hagadone News Network | UPDATED 5 years, 5 months AGO
by AP Economics Writer
| June 25, 2020 4:27 AM

WASHINGTON (AP) — The U.S. government will provide its latest report Thursday on the layoffs that have left millions unemployed and have remained high even as many businesses have reopened and rehired some laid-off workers.

The weekly toll of job cuts has steadily declined since the coronavirus first struck hard in March, forcing business closures and tipping the economy into recession. But last week’s report on applications for jobless aid showed that the pace of decline had stalled at a high level, evidence that many companies are still shedding workers.

Now, a sudden resurgence of COVID-19 cases is threatening to derail what had looked like the start of an economic recovery.

In May, employers added 2.5 million jobs, and the unemployment rate fell from 14.7% to a still-high 13.3%. But the economy and the job market may struggle to sustain their recent gains amid the surge in new viral infections, which could cause a new round of business shutdowns.

ARTICLES BY AP ECONOMICS WRITER

October 10, 2020 12:03 a.m.

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.

October 9, 2020 12:06 a.m.

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.

October 8, 2020 10:03 a.m.

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.