One in four US workers have filed for unemployment since the pandemic hit, as another 2.1 million people filed jobless claims last week
Another 2.1 million people filed initial jobless claims last week, the Department of Labor reported Thursday morning.It was the tenth-straight week in which claims were in the millions. America had never recorded a single week of 1 million jobless claims prior to the coronavirus crisis. Weekly claims hit their peak at the end of March and have declined every week since then. Although the peak of the jobless wave has passed, at least for now, the state of the US labor market remains dire.
It was the first decline in continued claims since the start of the pandemic. Economists will keep a close eye on this number in the coming weeks. If it continues to decline, the US labor market could be on the path toward improvement.Economists, politicians and workers have high hopes that people will be able to return to work as the US economy reopens. But this reopening will be staggered and unsynchronized.
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