Level Info – CA – US unemployment claims rise to 965000, as viruses take their toll – NEWS 1130

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WASHINGTON – The number of people seeking unemployment benefits rose to 965 last week000, the highest since late August, and there is evidence that the resurgent virus is present, causing an increase in layoffs

The latest unemployment claims figures, released Thursday by the Department of Labor, are at levels only hit after the virus emerged before the pandemic, weekly claims were typically around 225000 Last spring, after the statewide shutdown went into effect, claims for unemployment benefits surged to nearly 7 million – ten times the previous record high. After falling in the summer, weekly claims are over 700 since September000 stayed

The fast pace of layoffs coincides with an economy that has stalled as consumers avoided traveling, shopping and eating out in the face of the rising number of viral cases over 4300 deaths were reported on Tuesday, another record high The closings of restaurants, bars, and other places where people congregate in California, New York, and other states have likely led to layoffs

Some states and cities are resisting shutdowns, in part out of fears of the economic repercussions, but due to the risk of further infection Minnesota allowed personal dining to resume this week Michigan stands ready to do the same to some bars and restaurants in Kansas City extend their opening times

In addition to the first-time jobless claims last week, the government announced Thursday that 53 million Americans continue to receive state unemployment benefits, up from 51 million in the previous week

Many more Americans receive unemployment benefits through two federal programs – one that provides extended benefits to people who have exhausted their state aid, and one that provides benefits to the self-employed and contract workers

Those two programs expired in late December and were belatedly renewed by mid-March in a $ 900 billion bailout package approved by Congress and legally signed by President Donald Trump that also includes $ 600 relief checks for most adults and an additional $ 300 per week unemployment benefit, Congress Democrats advocate increasing checks to 2$ 000 and the expansion of federal aid beyond March, as did President-elect Joe Biden

The US. The weakness in the labor market was painfully evident in the December employment report released by the government last week. Employers shed jobs for the first time since April, as the pandemic took more control of consumers and businesses

The numbers also showed a vastly unequal labor market: last month’s losses were concentrated in restaurants, bars, hotels and entertainment venues – places that offer personal services that some governments have restricted or that consumers eschew educational services, mostly colleges and entertainment Universities, too, cut their workforce in December, and film and music studios too

Most other major industries reported job gains, however, as many economists had expected last spring that job losses would affect more industries.Although all industries initially laid off workers, most of them avoided deep layoffs in manufacturing, construction and professional services such as engineering and architecture added additional jobs in December

At the same time, many companies seem unwilling to increase their hiring A government report Tuesday showed employers posted fewer vacancies in November than in October The decline, though small, has been widespread in most industries even now The nation has nearly 10 million fewer jobs than before the pandemic that plunged the economy into deep recession almost a year ago after recovering just 56% of the jobs lost in the spring

Many economists say that after a wider spread of coronavirus vaccines in the second half of the year, there should be a broader recovery, the future government of Biden is also expected to see more bailout and spending measures along with a now fully democratically run House and Senate propels that could accelerate growth

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Unemployment, Unemployment Claims, Government, Week, Associated Press

Level Info – CA – US Unemployment Claims Rise to 965000, as viruses take their toll – NEWS 1130
Related Title :
US claims rise to 965,000 as Virus Takes Tribute
New US jobless claims that rose from 181,000 last week in the highs have skyrocketed: govt
– <a href = "/? s = US jobless claims rise to 965,000 as layoffs remain high when the economy is under the influence of viruses

Source: https://www.citynews1130.com/2021/01/14/us-unemployment-claims-jump-to-965000-as-virus-takes-toll/

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