Unemployment Claims Fall Slightly As Labor Market Struggles To Recoup Losses

Another 860,000 people filed for temporary unemployment benefits last week, on par with what economists were expecting—while the numbers are slightly lower than the week before, when 884,000 people filed new claims, they’re still holding steady at record highs.... [+]

continues Phase 4 of re-opening following restrictions imposed to slow the spread of coronavirus on August 8, 2020 in New York City.The slight drop in claims could be attributable to new hiring, but it may also signal that expanded federal unemployment benefits are now expiring for some job seekers.

Another 658,737 people filed new claims under the Pandemic Unemployment Assistance program, which is intended for freelancers, gig workers, and other self-employed workers who don’t qualify for traditional unemployment assistance. Crucial Quote

theothersarahh No more stimulus until after election. Stay strong! NoStimulus

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