Layoffs: 1.5M workers file for unemployment amid COVID-19 even as states let businesses reopen

For the first time in nearly three months, layoffs barely declined last week raising concerns about how swiftly the labor market will improve.

For the first time in nearly three months, a closely watched gauge of layoffs barely declined last week, raising concerns about how swiftly the labor market will improve amid the coronavirus pandemic even as many states reopen their economies.

The weekly tallies remain far higher than the previous record of 695,000 initial unemployment claims during a deep recession in October 1982. Continuing claims, which represent all Americans still receiving benefits with a one-week lag, also fell just modestly by 62,000 to 20.5 million the week ending June 6. As states increasingly reopen their economies, that figure is becoming more significant because it reflects all those still unemployed and thus accounts for people who have returned to work.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

USATODAY /  🏆 100. in US

Canada Latest News, Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Layoffs: 1.5M workers file for unemployment amid COVID-19 even as states let businesses reopenAnother 1.5M Americans filed initial jobless claims last week amid the coronavirus pandemic even as states continue allowing businesses to reopen.
Read more »

Michelle Keegan and Mark Wright celebrate millionaire status with £2.5m earningsMichelle and Mark are said to have raked in a staggering £2.6 million last year, which would make them one of showbiz's wealthiest couples
Read more »

Layoffs: 1.5M workers file for unemployment amid COVID-19 even as states let businesses reopenAnother 1.5M Americans filed initial jobless claims last week amid the coronavirus pandemic even as states continue allowing businesses to reopen.
Read more »

Kron Moore on Tyler Perry Turning 'Oval' Set Into 'Camp Quarantine'Tyler Perry is taking every precaution possible to ensure the safety of his cast and crew on set of TheOval.
Read more »

‘There is no playbook’: Restaurants are closing again after workers test positive for coronavirus'There is no playbook': Restaurants are closing again after workers test positive for coronavirus
Read more »