August 13, 2020

New US jobless claims drop below 1 mn, first time since March

Washington (AFP) – The US Labor Department on Thursday reported fewer than one million new weekly claims for unemployment benefits for the first time since the coronavirus pandemic struck in March.The result was better than expected but analysts warn the United States remains in the midst of an unemployment crisis after business shutdowns to stop the spread of COVID-19 led to tens of millions of layoffs.The Labor Department data showed 963,000 seasonally adjusted initial claims filed in the week ended August 8, a drop of 228,000 from the previous week.The insured unemployment rate also dropped…


Leave a Reply

Your email address will not be published. Required fields are marked *