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Weekly Unemployment Claims Slow, But The Labor Market Is Still In Dire Straits

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3.2 million people filed for temporary unemployment benefits last week, down from 3.8 million the week before and 4.4 million the week before that. More than 33 million people have filed claims since the coronavirus crisis began.

, tapping $348 million in federal money out of a possible $10 billion that it has access to through the end of July. Illinois has been approved to borrow $12.6 billion and Connecticut is approved to borrow $1.1 billion.has emerged among lawmakers in Washington over the prospect of sending more federal aid to state and local governments—the $2.

to cover budget shortfalls while Republican Majority Leader Mitch McConnell has proposed allowing states to go bankrupt rather than sending them more aid. Even though total claims have declined from week to week, the unemployment situation is likely more dire than the data reflect.

 

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