Friday, July 24, 2020

New unemployment claims up this week

New state unemployment claims increased last week for the first time in nearly four months, disturbing evidence that the struggling economy is backsliding at a time when coronavirus cases are on the rise. 
After a flood of claims as the pandemic shut businesses early in the spring, weekly unemployment filings fell sharply before flattening in June. But on Thursday, the Labor Department reported more than 1.4 million new applications for state benefits last week, up from about 1.3 million in the preceding two weeks.
Here's the Calculated Risk writeup. Best wishes to unemployed folks, and to all of us.