Tag Archives: unemployment

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 …

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 …

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 …

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 …

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. …

Mediaite reports: “Mr. President, why haven’t you announced a plan to get 36 million unemployed Americans back to work. You’re overseeing historic economic despair. What’s the delay?” questioned the reporter, prompting President Trump to reply, “Oh, I think we’ve announced a plan. We’re opening up our country.” “Just a rude person, you are,” he snapped, before continuing, “We are opening …

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 …

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 …

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 …

USA Today reports: About 30 million Americans filed for unemployment benefits over the past six weeks, a grim marker revealing how badly the coronavirus pandemic has crippled the U.S. economy. Roughly 3.8 million people filed for unemployment last week alone, the Labor Department said Thursday, lower than the 4.4 million who filed the week before and down from the all-time …

NBC News reports: Another 4.4 million Americans filed for initial jobless claims last week, revealing that at least 26 million people have requested unemployment benefits since the outbreak of the coronavirus pandemic. In just one month, all job gains since the Great Recession have disappeared, according to new data released Thursday by the Department of Labor. The economy had created …

NBC News reports: Around 5 million more people filed for first-time unemployment claims last week, as the job market in every sector of the economy continues to be devastated by the coronavirus pandemic. The staggering weekly number comes as President Donald Trump weighs plans to pull back on the social distancing measures that have shuttered businesses across the country, and …

NPR reports: The number of people seeking unemployment benefits shot up again last week, as 6.6 million more people filed initial claims, the Labor Department said Thursday. And analysts expect the numbers to keep rising in coming weeks. About 17 million have filed in the past three weeks. In the prior week, ending March 28, a revised 6.9 million people …

Politico reports: Already anxious about Trump’s chances in the nation’s biggest swing state, Republicans now are dealing with thousands of unemployed workers unable to navigate the Florida system to apply for help. And the blowback is directed straight at Trump’s top allies in the state, Gov. Ron DeSantis and Sen. Rick Scott. Privately, Republicans admit that the $77.9 million system …

The New York Times reports: More than 6.6 million people filed new claims for unemployment benefits last week, the Labor Department said Thursday, setting a grim record for the second straight week. Added to 3.3 million claims for the week ending March 21, it means nearly 10 million people have filed for unemployment benefits in two weeks. The speed and …

NPR reports: A record 3.28 million Americans filed for unemployment benefits last week as the coronavirus pandemic shut down much of the country. The Labor Department’s report Thursday was one of the first official indicators of how many people have suddenly been forced out of work nationally. The staggering claims figure was well above the levels seen during the darkest …

Politico reports: The three states that President Donald Trump has formally declared coronavirus disaster areas have not received the disaster unemployment assistance that they expected to follow that designation. New York, California and Washington state all requested access to several aid programs provided under a disaster declaration, including disaster unemployment assistance. Disaster unemployment assistance allows workers who aren’t eligible for …

The New York Times reports: The Trump administration is asking state labor officials to delay releasing the precise number of unemployment claims they are fielding, an indication of how uneasy policymakers are about further roiling a stock market already plunging in response to the coronavirus outbreak. In an email sent Wednesday, the Labor Department instructed state officials to only “provide …

CNBC reports: Treasury Secretary Steven Mnuchin warned Republican senators on Tuesday that the country’s unemployment rate could hit 20% if they failed to act on a proposed coronavirus rescue package and there was lasting economic damage, a person familiar with the closed-door meeting said. Mnuchin met with senators to persuade them to pass a $1 trillion stimulus package that would …

The Hill reports: The U.S. added 273,000 jobs in February, according to data released Friday by the Labor Department, blowing past expectations ahead of a feared coronavirus economic slump. The unemployment rate stayed roughly even at 3.5 percent while the labor force participation rate held steady at 63.4 percent. February’s job gain comes after an upwardly revised increase of 273,000 …