Another 1.3 million workers filed for unemployment insurance

Another 1.3 million workers filed for unemployment insurance

Weekly unemployment filings have been in the millions each week since mid-March.

July 9, 2020, 12:46 PM

2 min read

Share to FacebookShare to TwitterEmail this article

Another 1.3 million U.S. workers filed for unemployment insurance last week, the Department of Labor said Thursday.

While the new jobless claims have leveled off some since peaking at 6.9 million in late March, they remain at historically high levels -- and have been in the millions each week for over three months. Prior to the COVID-19 crisis, the record for weekly unemployment filings was 695,000 in 1982.

The latest data from the DOL indicates that some business are reopening as pandemic restrictions ease, but some 18 million U.S. workers are still receiving unemployment insurance. Since the pandemic began, more than 45 million Americans have lost their jobs and filed for unemployment insurance.

Some of the hardest-hit industries by the COVID-19 financial crisis include hospitality, food and beverage service and the travel sector.

The official unemployment rate in June was 11.1%, the Labor Department said last week. Economists, however, cautioned that this figure might not encompass business re-closings that have been happening in recent weeks amid concerning rises in COVID-19 cases in many states.

This is a developing story. Please check back for updates.

Source Link