Tag: Unemployment rate

1.4 million seek jobless aid as coronavirus keeps forcing layoffs

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COURTESY BY: https://www.hindustantimes.com/ More than 1.4 million laid-off Americans applied for unemployment benefits last week, further evidence of the devastation the coronavirus outbreak has unleashed on the U.S. economy. The continuing wave of job cuts is occurring against the backdrop of a spike in virus cases that has led many states to halt plans to reopen businesses and has caused millions of consumers to delay any return to traveling, shopping and other normal economic activity. Those trends have forced many businesses to cut jobs or at least delay hiring. The…

1.9 million in US seek jobless aid even as reopenings slow layoffs

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COURTESY BY: https://www.hindustantimes.com/ Nearly 1.9 million people applied for US unemployment benefits last week, the ninth straight decline since applications spiked in mid-March, a sign that the gradual reopening of businesses has slowed the loss of jobs. The diminishing pace suggests that the job market meltdown that was triggered by the coronavirus may have bottomed out as more companies call at least some of their former employees back to work. The total number of people who are now receiving jobless aid rose only slightly to 21.5 million, suggesting that rehiring…