More than one million Americans filed for unemployment last week even as parts o

[cadence4u]

More than one million Americans filed for unemployment last week even as parts of the economy start to rebound amid the pandemic and government financial aid dries up

* Initial claims for state unemployment benefits totaled 1.006 million for the week ended August 22, compared to 1.104
   million in the prior week
* The reopening of businesses in May helped to pull down claims from a record 6.867 million in March, when nonessential
   were shut due to coronavirus
* Before the coronavirus pandemic, claims had never topped 700,000 in a week
* More than 14.5m are collecting traditional jobless benefits, up from 1.7m in 2019

The number of Americans filing new claims for unemployment benefits hovered around one million last week, suggesting the labor market recovery was stalling amid the ongoing COVID-19 pandemic and government financial aid drying up.

Initial claims for state unemployment benefits totaled a seasonally adjusted 1.006 million for the week ended August 22, compared to 1.104 million in the prior week, the Labor Department said on Thursday.

The reopening of businesses in May helped to pull down claims from a record 6.867 million in March, when nonessential establishments were shuttered in an effort to slow the spread of the coronavirus.

Claims dropped below 1 million early this month for the first time since the pandemic started in the United States. Before the coronavirus pandemic, they had never topped 700,000 in a week.

More than 14.5 million are collecting traditional jobless benefits - up from 1.7 million a year ago - a sign that many American families are depending on unemployment checks to keep them afloat. 

The pandemic has had a devastating impact on the American economy. Businesses closed and Americans stayed home to avoid infection. Economic activity plummeted and employers slashed more than 22 million jobs in March and April.

Since then, the job market and the economy have been rebounding as businesses slowly reopened.

Home sales and prices have been strong. Employers added nearly 9.3 million jobs in May, June and July - but that hiring surge replaced just 42 per cent of the jobs lost in March and April.

Until July 31, the unemployed were receiving an extra $600 a week in federal money on top of regular state unemployment benefits, part of an extraordinary lifeline extended to help them through the crisis.

The loss of that money is putting the squeeze on many families.

'My income is basically cut in half,' said Taylor Love, 34, an unemployed massage therapist in Austin, Texas. 'Paying our mortgage is going to be a struggle. We´re going to have to dip into what little savings we have.´

After passing a massive financial rescue package in March, congressional Republicans and Democrats have been unable to agree on more aid.

President Donald Trump signed an executive order August 8 offering a stripped-down version of the expanded unemployment benefits.

At least 39 states have accepted or said that they would apply for federal grants that let them increase weekly benefits by $300 or $400.

A summertime resurgence of cases in the South and West forced many businesses to close again in July. The data firm Womply reports that business closures have mostly stabilized in the past four weeks.

Still, 70 per cent of Texas bars and 71 per cent of California health and beauty shops were closed as of mid-August, Womply found.

Economists also worry that without additional government help the economy's recovery will fade.

'I really want Congress to come up with a benefits package,' said Jacob Hanson, an unemployed temp worker in Seattle. 'Everyone needs a hand right now. The situation is pretty ridiculous.'

Businesses have exhausted government loans to help with wages, while a weekly unemployment supplement expired in July. Economists attributed a sharp rebound in activity to the government's financial support and some are dialing back lofty growth estimates for the third quarter. 

Last week, nearly 608,000 people applied for jobless aid under a new program that extends eligibility for the first time to self-employed and gig workers, up from 525,000 the previous week.

That figure isn't adjusted for seasonal trends, so it's reported separately.

Altogether, the Labor Department said that 27 million people are receiving some form of unemployment benefits, though the figure may be inflated by double-counting by states.

Though new COVID-19 infections have subsided after a broad resurgence through the summer, many hot spots remain, especially at college campuses that have reopened for in-person learning.

A separate report from the Commerce Department on Thursday confirmed the economy suffered its deepest contraction in at least 73 years in the second quarter.

Gross domestic product plunged at a 31.7 per cent annualized rate last quarter, the government said in its second estimate. That was revised from the 32.9 per cent pace reported last month.

The economy slipped into recession in February.

Rubeela Farooqi, chief U.S. economist at High Frequency Economics,  said: 'The risk of permanent damage to the labor market remains high which will slow the pace of recovery. The return to pre-pandemic levels of prosperity is set to be an uncertain and prolonged process.'

[potluck6]

Yes it's looking pretty bad. So many companies going under. San Fran it loosing hundreds cause many can't afford rents. We're not doing well with covid cases i either. A vaccine seems to be the only answer.  Hate to see stupid people not wearing masks. More will get sick and more unemployment.

[Azanne07]

Yep. Pretty bad. I went from 70 hours a week to nothing. Then to drop from 965 a week down. To 365 a week and it sucks

[ancmetro]

    Yes, it is really a catastrophic situation: No re-hires, no new hires!

[minioncookies]

Sadly this is the fate till we fully open and some business comes back. Still going to leave a huge hole were other business was that couldn't come back. But when we do get back to normal and business does pick up more business will probably start up by new people who never had one before which could be good all around for everyone

[fillfran82]

More than one million Americans filed for unemployment last week even as parts of the economy start to rebound amid the pandemic and government financial aid dries up

* Initial claims for state unemployment benefits totaled 1.006 million for the week ended August 22, compared to 1.104
   million in the prior week
* The reopening of businesses in May helped to pull down claims from a record 6.867 million in March, when nonessential
   were shut due to coronavirus
* Before the coronavirus pandemic, claims had never topped 700,000 in a week
* More than 14.5m are collecting traditional jobless benefits, up from 1.7m in 2019

The number of Americans filing new claims for unemployment benefits hovered around one million last week, suggesting the labor market recovery was stalling amid the ongoing COVID-19 pandemic and government financial aid drying up.

Initial claims for state unemployment benefits totaled a seasonally adjusted 1.006 million for the week ended August 22, compared to 1.104 million in the prior week, the Labor Department said on Thursday.

The reopening of businesses in May helped to pull down claims from a record 6.867 million in March, when nonessential establishments were shuttered in an effort to slow the spread of the coronavirus.

Claims dropped below 1 million early this month for the first time since the pandemic started in the United States. Before the coronavirus pandemic, they had never topped 700,000 in a week.

More than 14.5 million are collecting traditional jobless benefits - up from 1.7 million a year ago - a sign that many American families are depending on unemployment checks to keep them afloat. 

The pandemic has had a devastating impact on the American economy. Businesses closed and Americans stayed home to avoid infection. Economic activity plummeted and employers slashed more than 22 million jobs in March and April.

Since then, the job market and the economy have been rebounding as businesses slowly reopened.

Home sales and prices have been strong. Employers added nearly 9.3 million jobs in May, June and July - but that hiring surge replaced just 42 per cent of the jobs lost in March and April.

Until July 31, the unemployed were receiving an extra $600 a week in federal money on top of regular state unemployment benefits, part of an extraordinary lifeline extended to help them through the crisis.

The loss of that money is putting the squeeze on many families.

'My income is basically cut in half,' said Taylor Love, 34, an unemployed massage therapist in Austin, Texas. 'Paying our mortgage is going to be a struggle. We´re going to have to dip into what little savings we have.´

After passing a massive financial rescue package in March, congressional Republicans and Democrats have been unable to agree on more aid.

President Donald Trump signed an executive order August 8 offering a stripped-down version of the expanded unemployment benefits.

At least 39 states have accepted or said that they would apply for federal grants that let them increase weekly benefits by $300 or $400.

A summertime resurgence of cases in the South and West forced many businesses to close again in July. The data firm Womply reports that business closures have mostly stabilized in the past four weeks.

Still, 70 per cent of Texas bars and 71 per cent of California health and beauty shops were closed as of mid-August, Womply found.

Economists also worry that without additional government help the economy's recovery will fade.

'I really want Congress to come up with a benefits package,' said Jacob Hanson, an unemployed temp worker in Seattle. 'Everyone needs a hand right now. The situation is pretty ridiculous.'

Businesses have exhausted government loans to help with wages, while a weekly unemployment supplement expired in July. Economists attributed a sharp rebound in activity to the government's financial support and some are dialing back lofty growth estimates for the third quarter. 

Last week, nearly 608,000 people applied for jobless aid under a new program that extends eligibility for the first time to self-employed and gig workers, up from 525,000 the previous week.

That figure isn't adjusted for seasonal trends, so it's reported separately.

Altogether, the Labor Department said that 27 million people are receiving some form of unemployment benefits, though the figure may be inflated by double-counting by states.

Though new COVID-19 infections have subsided after a broad resurgence through the summer, many hot spots remain, especially at college campuses that have reopened for in-person learning.

A separate report from the Commerce Department on Thursday confirmed the economy suffered its deepest contraction in at least 73 years in the second quarter.

Gross domestic product plunged at a 31.7 per cent annualized rate last quarter, the government said in its second estimate. That was revised from the 32.9 per cent pace reported last month.

The economy slipped into recession in February.

Rubeela Farooqi, chief U.S. economist at High Frequency Economics,  said: 'The risk of permanent damage to the labor market remains high which will slow the pace of recovery. The return to pre-pandemic levels of prosperity is set to be an uncertain and prolonged process.'

Hi!

I'm so grateful to still be working. I know so many are still not working which sucks. I hope things get back to normal soon.

[tantricia44]

More than one million Americans filed for unemployment last week even as parts of the economy start to rebound amid the pandemic and government financial aid dries up

* Initial claims for state unemployment benefits totaled 1.006 million for the week ended August 22, compared to 1.104
   million in the prior week
* The reopening of businesses in May helped to pull down claims from a record 6.867 million in March, when nonessential
   were shut due to coronavirus
* Before the coronavirus pandemic, claims had never topped 700,000 in a week
* More than 14.5m are collecting traditional jobless benefits, up from 1.7m in 2019

The number of Americans filing new claims for unemployment benefits hovered around one million last week, suggesting the labor market recovery was stalling amid the ongoing COVID-19 pandemic and government financial aid drying up.

Initial claims for state unemployment benefits totaled a seasonally adjusted 1.006 million for the week ended August 22, compared to 1.104 million in the prior week, the Labor Department said on Thursday.

The reopening of businesses in May helped to pull down claims from a record 6.867 million in March, when nonessential establishments were shuttered in an effort to slow the spread of the coronavirus.

Claims dropped below 1 million early this month for the first time since the pandemic started in the United States. Before the coronavirus pandemic, they had never topped 700,000 in a week.

More than 14.5 million are collecting traditional jobless benefits - up from 1.7 million a year ago - a sign that many American families are depending on unemployment checks to keep them afloat. 

The pandemic has had a devastating impact on the American economy. Businesses closed and Americans stayed home to avoid infection. Economic activity plummeted and employers slashed more than 22 million jobs in March and April.

Since then, the job market and the economy have been rebounding as businesses slowly reopened.

Home sales and prices have been strong. Employers added nearly 9.3 million jobs in May, June and July - but that hiring surge replaced just 42 per cent of the jobs lost in March and April.

Until July 31, the unemployed were receiving an extra $600 a week in federal money on top of regular state unemployment benefits, part of an extraordinary lifeline extended to help them through the crisis.

The loss of that money is putting the squeeze on many families.

'My income is basically cut in half,' said Taylor Love, 34, an unemployed massage therapist in Austin, Texas. 'Paying our mortgage is going to be a struggle. We´re going to have to dip into what little savings we have.´

After passing a massive financial rescue package in March, congressional Republicans and Democrats have been unable to agree on more aid.

President Donald Trump signed an executive order August 8 offering a stripped-down version of the expanded unemployment benefits.

At least 39 states have accepted or said that they would apply for federal grants that let them increase weekly benefits by $300 or $400.

A summertime resurgence of cases in the South and West forced many businesses to close again in July. The data firm Womply reports that business closures have mostly stabilized in the past four weeks.

Still, 70 per cent of Texas bars and 71 per cent of California health and beauty shops were closed as of mid-August, Womply found.

Economists also worry that without additional government help the economy's recovery will fade.

'I really want Congress to come up with a benefits package,' said Jacob Hanson, an unemployed temp worker in Seattle. 'Everyone needs a hand right now. The situation is pretty ridiculous.'

Businesses have exhausted government loans to help with wages, while a weekly unemployment supplement expired in July. Economists attributed a sharp rebound in activity to the government's financial support and some are dialing back lofty growth estimates for the third quarter. 

Last week, nearly 608,000 people applied for jobless aid under a new program that extends eligibility for the first time to self-employed and gig workers, up from 525,000 the previous week.

That figure isn't adjusted for seasonal trends, so it's reported separately.

Altogether, the Labor Department said that 27 million people are receiving some form of unemployment benefits, though the figure may be inflated by double-counting by states.

Though new COVID-19 infections have subsided after a broad resurgence through the summer, many hot spots remain, especially at college campuses that have reopened for in-person learning.

A separate report from the Commerce Department on Thursday confirmed the economy suffered its deepest contraction in at least 73 years in the second quarter.

Gross domestic product plunged at a 31.7 per cent annualized rate last quarter, the government said in its second estimate. That was revised from the 32.9 per cent pace reported last month.

The economy slipped into recession in February.

Rubeela Farooqi, chief U.S. economist at High Frequency Economics,  said: 'The risk of permanent damage to the labor market remains high which will slow the pace of recovery. The return to pre-pandemic levels of prosperity is set to be an uncertain and prolonged process.'

Hi!

I'm so grateful to still be working. I know so many are still not working which sucks. I hope things get back to normal soon.

I hope everyone votes against Trump to give us a new chance for us to go back to normal!

[lywb2168]

Sadly it is happening and there is no end on site.  My husband is been out since April and also lost the $600, now we are barely surviving.  Thank God I have a full time job but with his salary cut is making a dent.  He has been looking but either, they want to offer half of what he was making or they tell him that he is overqualified for the position.

The year 2020 is going down in history as the worse year since the great depression.

[sipingyu]

Pretty bad I agree and there is no end to the pandemic yet. Some of my relatives are also affected. Best wishes to all.

[mrisha]

This Pandemic has made it hard for people to get unemployment.  I do wonder if they are going to give more stimulus money to people who are in dire need.

[mrsmere]

Many people are struggling.  I'm retired and have never seen it like this.  I volunteer at a soup kitchen and we are seeing a lot of new faces and hearing their hardship stories.  Hope and pray things rebound soon especially with the winter months coming.

[plennis]

I am also amazed at how many people say if you are having a problem just get a job.  They have not been out trying to get a job.  No one is hiring except for delivery jobs.  Then you have to have a reliable vehicle and more insurance.

[surveygrabber]

I have not been working since March and currently receive unemployment benefits. I do hope things will go back to normal.

[lywb2168]

My husband's company informed him that their client has decided NOT to open for in person until sometimes next Year, so basically my husband is out of work and will lose his unemployment in November.  He has been looking but no jobs come I do not know how long we can last with our savings to pay the basics.

[ghunter]

We all hope things will get back to normal soon, but I don't think it will happen no time soon.  Maybe next year