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UPDATE: US jobless claims reach 840,000 as layoffs remain high

UPDATE: US jobless claims reach 840,000 as layoffs remain high

KAAL-TV
Updated: October 08, 2020 07:33 AM
Created: October 08, 2020 06:22 AM

WASHINGTON (AP) - US jobless claims reach 840,000 as layoffs remain high 7 months after virus struck economy.

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The government will provide its latest picture Thursday of the pace of layoffs in the United States, which have remained high since the viral pandemic erupted in March while federal aid for the jobless has lapsed.

The still-elevated number of people seeking unemployment benefits each week reflects an economy that has recovered only slightly more than half the 22 million jobs that were lost to the pandemic.

The latest report on jobless claims comes just after President Donald Trump cut off talks in Washington over a new federal rescue aid package that economists say is urgently needed for unemployed workers and struggling businesses. 

(Copyright 2020 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.)


(Copyright 2020 by The Associated Press. All Rights Reserved.)

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