BREAKING: 1.9 million U.S. workers seek jobless aid, a ninth straight weekly decline as more businesses reopen.
In this Wednesday, June 3, 2020 photo, Juan Santos stocks shelves at the Presidente Supermarket in the Little Havana neighborhood of Miami. The U.S. government is set to issue its latest report on the layoffs that have left millions unemployed but have steadily slowed as many businesses have begun to reopen and to rehire some laid-off workers.
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. In addition to the laid-off employees who applied for benefits last week, 623,000 others sought jobless aid under a new program for self-employed and gig workers, who now qualify for unemployment benefits for the first time. These figures aren’t adjusted for seasonal variations, so the government doesn’t include them in the overall data.
Thursday’s report wasn’t affected by the protests over the killing of George Floyd, which in recent days forced some major retailers and small businesses to close, because it covers claims filed only through May 30. But some economists warn that applications for unemployment aid could rise in next week’s report, reflecting business closures amid the protests and scattered vandalism.“That’s going to kick up the claims again,” said Jane Oates, a former Labor Department official.
Economists caution that most Americans will need to feel more confident about returning to their former habits of shopping, traveling and eating out before the economy can sustain any meaningful recovery. That will likely require the availability of a vaccine or a significant increase in testing.
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