Still, in a sign some rehiring is underway, the rolls of those continuing to receive jobless benefits is slowly declining, the Labor Department reported on Thursday, and other data indicated a recovery from the recession triggered by COVID-19 continues, though at a more fitful pace than earlier.
“The labor market is a long way from being healthy,” Nancy Vanden Houten, lead U.S. economist at Oxford Economics, wrote in a note to clients. States are required to cover $100 of the benefits, but many governors have indicated they don’t have the financial capacity after revenues were decimated in the fight against the COVID-19 pandemic. The remaining $300 will be funded from a limited emergency disaster relief program, which economists estimated could be depleted as early as September.‘LOSING STEAM’
While new claims are up, the number of people continuing to collect jobless benefits beyond the first week fell to the lowest level since April. So-called continuing claims declined to 14.844 million in the week ending Aug. 8 from a revised 15.480 million in the prior week. Economists polled by Reuters had forecast continued claims at 15 million.
Nonetheless, two other reports on Thursday showed a recovery is underway, although the pace has slackened in recent weeks.
I’m not sure the democrats understand the idea of a COMPROMISE. They won’t listen to the Republicans who want to extend unemployment above pre-covid amounts, but they think it’s more important to let American suffer with NOTHING until the Republicans agree with them.
Trumpfailed with oil and gas as well! Millions of layoffs in the oil, gas, and industrial construction industries. TrumpKillsAmericanJobs
Hey Reuters, why don't you give us some information concerning where the Unemployment Benefits are being filed, IE in what major cities? Maybe other factors beside the coronavirus might be in play, do you think? ie RIOTS? I bet you won't give us that information.
Where are the jobs POTUS?
This is what happens when you have a president with no plan other than wishful thinking that millions of jobs will magically reappear BidenHarris2020
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