Headline RoundupAugust 13th, 2020

New Jobless Claims Fall Below 1 Million

Summary from the AllSides News Team

New filings for unemployment benefits in the U.S. numbered about 963,000 last week, falling below a million weekly claims for the first time since lockdowns began in March. In total, jobless claims topped one million for 21 weeks, with unemployment benefits accounting for about 5% of national income. Continuing unemployment claims dropped to 15.5 million. Some coverage from all sides, especially right-rated outlets, framed the drop in claims as indicative of a quickening recovery, pointing to a rallying stock market. Some coverage from left-rated outlets focused on the fact that the number of claims is still high by historical standards, and cautioned that many job losses could be permanent.

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