Employment

Jobless Claims Below 1M For First Time In 20 Weeks

Yahoo Money reports:  The number of individuals filing new unemployment insurance claims improved to a fresh pandemic-era low last week, falling below the 1 million mark for the first time since March. Thursday’s report ended what had been a previous 20-week streak that new claims totaled more than 1 million, with tens of millions of Americans put out of work …

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1.2M New Jobless Claims As $600/Week Benefit Ends

Yahoo Finance reports: The number of new unemployment insurance claims improved last week to a pandemic-era low but held above 1 million yet again, as the coronavirus outbreak continues to weigh on the pace of recovery in the labor market. Thursday’s report reflected the twentieth straight week that new claims topped 1 million, as the pandemic forced furloughs and layoffs …

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GOP To Pitch Cutting Jobless Benefits To $200/Week

The Washington Post reports: Senate Republicans will propose cutting weekly emergency unemployment benefits from $600 to $200 until states can bring a more complicated program online, according to two people familiar with the plan granted anonymity to share details that had not yet been released. The $600 weekly jobless benefit expires in a few days, and House Democrats have proposed …

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POLL: 47% Say Job Lost To COVID Likely Won’t Return

The Associated Press reports: Nearly half of Americans whose families experienced a layoff during the coronavirus pandemic now believe those jobs are lost forever, a new poll shows, a sign of increasing pessimism that would translate into roughly 10 million workers needing to find a new employer, if not a new occupation. It’s a sharp change after initial optimism the …

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Labor Dept Reports 1.4 Million New Jobless Claims

USA Today reports: The number of Americans filing jobless claims rose last week, showing the need for aid isn’t waning even as the extra $600 that bolstered weekly checks during the pandemic comes to an end. 1.4 million more Americans filed for unemployment benefits for the first time as the coronavirus surges throughout many states, and recently reopened businesses shut …

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Over 1M New Jobless Claims For 17th Straight Week

CNBC reports: The number of Americans who filed for unemployment benefits rose more than expected last week as the country continues to grapple with the economic impacts of the coronavirus pandemic. Initial weekly jobless claims came in at 1.3 million for the week ending July 11, the Labor Department said Thursday. Economists polled by Dow Jones expected 1.25 million. It …

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Labor Dept Reports 1.3M New Jobless Claims For Week

Business Insider reports: US weekly jobless claims totaled 1.3 million in the week that ended Saturday, the Labor Department said Thursday. That came in lower than the consensus economist estimate of 1.38 million compiled by Bloomberg. In just a few months, the roughly 50 million unemployment claims filed during the coronavirus pandemic have far surpassed the roughly 37 million during …

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Labor Dept Reports 1.5M New Jobless Claims For Week

Business Insider reports: US weekly jobless claims totaled 1.5 million in the week that ended Saturday, the Labor Department said on Thursday. That slightly exceeded the consensus economist estimate of 1.3 million, according to Bloomberg data. In just a few months, total layoffs due to the coronavirus pandemic surpassed the roughly 37 million Americans who filed for benefits during the …

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Labor Dept: 1.5M New Jobless Claims, 45M Since March

USA Today reports: Three months into the coronavirus crisis, the U.S. economy is reopening and many Americans are going back to work. But hundreds of thousands are still being laid off. About 1.5 million workers filed applications for unemployment insurance for the first time last week, the Labor Department said Thursday. That pushes the running tally of those who have …

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Trump Admin Not Planning To Extend Jobless Benefits

The New York Times reports: The Trump administration does not plan to back the extension of expanded unemployment insurance benefits beyond the end of July, citing concerns that workers are opting to take the generous benefits instead of going back to their jobs. Larry Kudlow, the director of the National Economic Council, said on Sunday that the White House would …

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Labor: 1.5M New Jobless Claims, 44M Over 12 Weeks

CNBC reports: The pace of unemployment claims declined again last week as the U.S. jobs market continued its plodding recovery from the coronavirus pandemic, Labor Department data showed Thursday. Initial claims totaled 1.54 million, compared with the 1.6 million expected from economists surveyed by Dow Jones and a plunge of 355,000 from the previous week’s total just shy of 1.9 …

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Fed Sees No Quick Recovery On Unemployment Rate

The New York Times reports: The Federal Reserve left interest rates unchanged and near zero on Wednesday as the central bank projected a slow economic recovery from the pandemic-induced recession. In their first economic projections this year, Fed officials indicated that they expected the unemployment rate to end 2020 at 9.3 percent and remain elevated for years, coming in at …

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Trump Exults After May Jobless Rate Falls Unexpectedly

Reuters reports: The U.S. unemployment rate unexpectedly fell in May and layoffs abated, the Labor Department said on Friday in a report that showed the latest signs the economic downturn caused by the COVID-19 pandemic was bottoming. The Labor Department’s closely watched monthly employment report showed the jobless rate dropped to 13.3% last month from 14.7% in April. Nonfarm payrolls …

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1.9M New Jobless Claims, 42M Since Lockdowns Began

The Guardian reports: Another 1.9 million Americans filed for unemployment benefits last week as the total number of claims passed 42 million since the coronavirus pandemic hit the US. The pace of layoffs has slowed dramatically from its peak of 6.6M at the start of April as states start to relax quarantine orders and last week was the ninth consecutive …

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2.1M New Jobless Claims, 40.7M Over Last Ten Weeks

USA Today reports: About 2.1 million Americans filed initial unemployment benefit claims last week, the Labor Department said Thursday. In just ten weeks, 40.7 million have sought jobless benefits that represent the nation’s most reliable gauge of layoffs. A record 20.5 million jobs were lost in April, according to the Labor Department, spiking the unemployment rate to 14.7%, the highest …

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Cultist Fired Over Effigy Hanging Of Kentucky Governor

Louisville’s Fox affiliate reports: An individual seen participating in the hanging of Gov. Andy Beshear’s effigy on Sunday at the Kentucky Capitol has been fired by their employer. The Neil Huffman Automotive Group announced the firing on Twitter Tuesday evening after an internal investigation. The identity of the individual has not been released and it is unclear which dealership he …

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2.4M New Jobless Claims, 38.6M Over Last Nine Weeks

CNBC reports: First-time filings for unemployment insurance totaled 2.44 million last week as the tail effects of the coronavirus shutdown continued to impact the U.S. jobs market. The total, while still well above anything the nation had seen in pre-coronavirus America, represents the seventh straight week of a declining pace following the record peak of 6.9 million in late March. …

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Labor Dept: 3M New Jobless Claims, 36.5M In 8 Weeks

Yahoo Finance reports: The COVID-19 pandemic’s continued impact on the labor market was highlighted Thursday morning when the U.S. Labor Department released its weekly initial jobless claims report. Another 2.981 million Americans filed for unemployment benefits in the week ending May 9 surpassing economists’ estimates for 2.5 million jobless claims for the week. The prior week’s figure was revised higher …

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Unemployment Hits 14.7%, Highest Since Depression

ABC News reports: The U.S. economy lost an unprecedented 20.5 million jobs in April and the unemployment rate soared to 14.7 percent, up from 4.4 percent in March after months at a half-century low, according to the monthly employment report, released Friday by the Department of Labor. In just over a month, the coronavirus has wiped out all job gains …

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3.2M New Jobless Claims, Total Of 33.5M Since March

CNBC reports: Unemployment rolls continued to swell in the U.S. last week, though jobless claims hit their lowest level since the economy went into lockdown made to battle the coronavirus pandemic. First-time filings for unemployment insurance hit 3.27 million last week, bringing the total to 33.5 million over the past seven weeks, the Labor Department reported Thursday. The total was …

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