5.2 million Americans filed for unemployment benefits last week as coronavirus layoffs continued
"The trajectory of the virus itself will ultimately determine how long the economy will remain shuttered,” analysts at Deutsche Bank Research said in a note.
The economy's downturn ends a nearly 11-year economic expansion that lasted a record 128 months, more than double the average, and topped the previous record from the 1990s, according to LPL Financial. Historically, the U.S. economy has taken an average of about 30 months to surpass its previous peak in employment following a recession, according to Ben Ayers, senior economist at Nationwide. That suggests long-term economic impacts for many of the people and households who have lost their jobs in recent weeks, he says.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Jobless claims: Another 5.245 million Americans file for unemployment benefitsThe coronavirus pandemic has sent shockwaves through the global economy, and investors got another pulse check on employment when the U.S. Labor Department released weekly jobless claims Thursday morning.
Read more »
California to provide more help for the unemployed, independent contractors and immigrants amid coronavirusGov. Gavin Newsom discussed the efforts on Wednesday and noted that 2.7 million Californians have filed for unemployment benefits in the last month amid the coronavirus pandemic.
Read more »
How to prepare for unemployment before you get the pink slipAs job losses mount, you can take a few steps now to ease the blow of a potential layoff or furlough.
Read more »
Here's how an app is making it easier for Americans to file for unemploymentLong waits and site crashes are frustrating Americans applying for unemployment, but an app may be able to help more people file for benefits. (via CNBCMakeIt)
Read more »
An extra $600 in unemployment benefits means I can freelance full-time - Business InsiderThe CARES Act provides an extra $600 a week in unemployment benefits to support workers during the coronavirus pandemic.
Read more »
Another 5 million unemployment claims could be tallied, but the job-loss trend may be peakingThe number of workers filing for unemployment claims could again top 5 million for the week ended April 11, but the filings may also be peaking.
Read more »