1.1 million people filed jobless claims last week, up from 963,000 the week before.
New unemployment claims for the week ending August 15 clocked in at 1.1 million, a sharp uptick from the 963,000 claims the previous week and the 920,000 that experts were expecting—the surprising backslide underscores just how vulnerable the labor market still is, even as economic activity recovers more steadily in other areas.... [+]
other supporters to ask that Delta Airlines contractor, Eulen America, who the demonstrators say received $25 million from the CARES Act, hire back their unemployed Fort Lauderdale-Hollywood International Airport workers on August 13, 2020 in Fort Lauderdale, Florida.Two weeks ago, claims dropped below one million for the first time since the crisis began after reaching a peak of 6.9 million claims in a single week in March.
While the pace of new claims has slowed since March, this week’s data indicates that layoffs remain high, even after the U.S. began to add jobs overall rather than lose them. Continuing claims—the number of people who have applied for benefits two weeks in a row—remained high at 14.8 million last week.“Initial claims rebounded above the 1 million threshold, taking a step backward on the path to recovery,”Glassdoor Senior Economist Daniel Zhao wrote. “The modest jump is a stark reminder that claims will likely encounter some turbulence as they fall rather than gliding in for a soft landing.”28 million.
only Arizona has begun paying out the extra $300 weekly checks. For most unemployed Americans, benefit checks for the last several weeks have been significantly reduced.
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