Weekly initial jobless claims hit 2.1 million

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Weekly initial jobless claims hit 2.1 million
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NEW: More than 2.1M Americans filed for 1st-time unemployment benefits last week, marking the 10th straight week that jobless claims have been in the millions, as the coronavirus continues to cripple the economy.

While the weekly totals for jobless claims have continued to fall since hitting a peak of 6.8 million in late March, state labor departments have been overwhelmed by the application process.after local governments completed updates of their websitesThe layoffs reflect an economic landscape that has been shattered and shuttered.

The cancellation of most summer camps, and an overall lack of child care, are also contributing to the elevated unemployment numbers, with some furloughed parents simply unable to return to work even when their position opens up again. Additionally, higher-than-normal unemployment checks are keeping a portion of the labor market at home. The Federal Reserve

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