The number of new state unemployment claims dipped last week, but job losses continue to batter the economy as rising coronavirus cases pushed some regions of the country to reverse course and reimpose shutdown orders on businesses.
More than 1.3 million workers, seasonally adjusted, filed new claims for regular unemployment benefits last week, the government reported on Thursday. Another million first-time claims were filed under the federal Pandemic Unemployment Assistance program. Taken together, the report paints a disappointing picture of recovery: Total new unemployment claims have edged up from their mid-June lows.
Although hiring nationwide has picked up in recent weeks, most of the payroll gains were temporarily laid-off workers who were rehired. The pool of employees whose previous jobs have disappeared and who must search for new ones has grown....The trend in permanent job loss isn't looking good. Here's hoping things turn around.