US weekly jobless claims top one million in setback to labour market recovery | Malay Mail

Thursday, 20 Aug 2020 08:45 PM MYT

Initial claims for state unemployment benefits rose to a seasonally adjusted 1.106 million for the week ended August 15, from an upwardly revised 971,000 in the prior week, the Labor Department said today. Economists polled by Reuters had forecast 925,000 applications in the latest week. While President Donald Trump has signed an executive order that includes a provision extending the supplement at a reduced rate of US$400 a week, there has been confusion over its implementation.

“The next few weeks will be telling in terms of how much of the recent improvement has been fundamental as the Sun Belt has recovered from their Covid surge, or technical as the US$600 benefit expired,” the Jefferies economists said.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Apple becomes first US company to hit US$2t in market value | Malay MailNEW YORK, August 19 — Apple today became the first US company to reach US$2 trillion (RM8.34 trillion) in market value in the latest demonstration of how tech giants have benefited from the upheaval of the coronavirus. The iPhone maker attained the distinction in mid-morning trading and was up...
Source: malaymail - 🏆 1. / 86 Read more »

Tokyo stocks open lower extending US losses | Malay MailTOKYO, Aug 20 — Tokyo stocks opened lower today with falls on Wall Street partly offset by a cheaper yen against the dollar. The benchmark Nikkei 225 index was down 0.46 per cent or 105.59 points at 23,005.02 in early trade, while the broader Topix index slipped 0.46 per cent or 7.50 points...
Source: malaymail - 🏆 1. / 86 Read more »