07/16/2020

1.3 Million More Filed New Unemployment Claims Last Week

The country continues to experience historic elevated unemployment

Approximately 1.3 million workers filed for unemployment insurance for the first time last week — the 17th straight week new claims exceeded 1 million as the coronavirus pandemic continues to drag down the economy.

Nearly 17.4 million workers were continually claiming unemployment insurance for the week ended July 4, the Labor Department said. Another 14.3 million people were claiming Pandemic Unemployment Assistance, the program newly created for self-employed or gig workers who are out of work at the moment, bringing the total number of people on all programs to 32 million unemployed.

“What we’re seeing is continued, historic elevated rates of job loss in the United States,” said Nick Bunker, an economist at Indeed Hiring Lab. “We’ve seen sustained elevated rates of job loss, and that’s continued as we hurdle toward the expiration of several programs that have propped up the economy.”

Please select this link to read the complete article from The Washington Post.