Another 1.5 million Americans filed for first-time unemployment benefits last week

Another 1.5 million Americans filed for first-time unemployment benefits last week

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but Chairman power focused on small business bankruptcy and extended unemployment. During a speech at the Peterson Institute for International Economics, Pau said, We ought to do what we can to avoid these outcomes, urging added action from Congress and the White House to limit the damage before it’s too late. We heard from House Speaker Nancy Pelosi Tuesday, who proposed an additional $3 trillion focused on small businesses along with state and local governments. But that effort could face an uphill battle as the Trump administration Republicans are hesitant to push out more relief funds. Chairman Powell, though, is quick to put things in perspective, saying Now is the time to take the steps, the scope in speed of this downturn or without modern precedent significantly worse than any recession since World War Two. How, Pal did say he believes it’s possible to get the economy back on track, even suggesting that one day we could return to the 50 year lows of unemployment we saw before the pandemic in Washington. I’m aperture reporting

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Another 1.5 million Americans filed for first-time unemployment benefits last week

Another 1.5 million Americans filed for first-time unemployment benefits last week, the U.S. Department of Labor reported on Thursday.Although initial jobless claims have been falling every week since peaking at 6.9 million in the last week of March, millions of people remain reliant on government aid to make ends meet since the pandemic eliminated their jobs.Continuing claims, counting the people who have applied for unemployment benefits for at least two weeks in a row, declined to 20.9 million, compared with last week’s reported 21.3 million.Economists have began focusing on continued claims as a better indicator of the state of the labor market last month, as many states began reopening their economies.

Another 1.5 million Americans filed for first-time unemployment benefits last week, the U.S. Department of Labor reported on Thursday.

Although initial jobless claims have been falling every week since peaking at 6.9 million in the last week of March, millions of people remain reliant on government aid to make ends meet since the pandemic eliminated their jobs.

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Continuing claims, counting the people who have applied for unemployment benefits for at least two weeks in a row, declined to 20.9 million, compared with last week’s reported 21.3 million.

Economists have began focusing on continued claims as a better indicator of the state of the labor market last month, as many states began reopening their economies.