Updated: October 01, 2020 07:41 AM
Created: October 01, 2020 06:10 AM
WASHINGTON (AP) - UPDATE: US jobless claims reach 837,000 as layoffs remain high nearly 7 months after virus struck economy.
The government will provide its latest picture Thursday of the pace of layoffs in the United States, which have remained high as some sectors of the economy have rebounded since the viral pandemic erupted in March while others remain depressed.
The elevated number of people seeking unemployment benefits each week reflects an economy that has recovered only about half the 22 million jobs that were lost to the pandemic.
Many employers, especially small retailers, hotels, restaurants, airlines and entertainment venues, are struggling. And millions of Americans are facing unemployment with vastly diminished aid since the expiration of a $600-a-week federal benefit this summer.
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(Copyright 2020 by The Associated Press. All Rights Reserved.)