1.4 Million More Americans File for Unemployment
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From the Left
Unemployment claims rise for second week in a row
New York (CNN Business) - In yet another sign that the economic recovery is teetering in a resurgence of coronavirus cases, the number of Americans filing first-time unemployment claims rose for the second week in a row.
Some 1.4 million people filed for initial jobless claims last week, up 12,000 from the prior week's revised level, which was the first increase in 16 weeks.
On an unadjusted basis, 1.2 million people filed first-time claims, down 171,000 from the week before. The seasonal adjustments are traditionally used to smooth out...
From the Center
U.S. weekly jobless claims rise for a second straight week, total 1.434 million
The number of Americans who filed for unemployment benefits last week was roughly in line with expectations as the coronavirus pandemic continues to ravage the U.S. economy.
Data released by the Labor Department showed initial weekly jobless claims for the week ending July 25 came in at 1.434 million. Economists polled by Dow Jones expected claims to rise to 1.45 million.
This also marks the second consecutive week in which initial claims rose after declining for 15 straight weeks. It is also the 19th straight week in which initial...
From the Right
1.4 Million Seek Jobless Aid as Virus Keeps Forcing Layoffs
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 Labor Department's report...
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