US jobless claims jump back above 1 million as pandemic continues

Two weeks after the decline in the number of worker workers receiving US unemployment benefits rose to 1.1 million last week, there is evidence that many employers are still declining jobs as coronavirus wives as the United States economy Huh.

The latest figures show that even after more than five months of viral outbreaks have passed, the economy remains weak, with some businesses recently reopening and some sectors, such as housing and manufacturing, receding. A growing number of people who have lost jobs say they consider their losses permanent.

The total number of people receiving unemployment assistance fell to 14.8 million from 15.5 million last week, the government said on Thursday. Those recipients are now receiving very little assistance because the $ 600-a-week federal benefit has expired, meaning that the unemployed must now receive very little assistance from their states. The loss of federal benefits has deepened conflicts for many, including a high risk of eviction from their homes.

President Donald Trump has signed an executive order to provide $ 300 for a week in federal relief unemployment assistance, with funds drawn from the Disaster Relief Fund. Twenty-five states have stated that they will apply for federal money, although they will need to improve their computer systems to do so. Other states are still considering whether to take this step; Two have said that they will not.

Some states may be hesitant to overhaul their unemployment systems as they expect Congress to eventually pass a new rescue package with an enhanced jobless benefit that may not require any changes.

In those states that decide to pay $ 300, the government estimates that it will take an average of three weeks for states to send money to the unemployed. And initially, enough money is being allocated to cover only three weeks of payments. Even with subsequent grants, analysts estimate that there will be enough money to last only five or six weeks.

The constant stream of layoffs comes against the backdrop of a modest recovery from a deep recession and a virus that is still crippling much of the economy. Home construction and sales have boomed. So buy an auto. But spending on travel, entertainment, and many other services remains weak.

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