employment

Some 881,000 Americans applied for unemployment benefits last week as the coronavirus pandemic kept the job market under pressure, the feds said Thursday. The significant drop in initial jobless claims was likely the result of changes to how the US Department of Labor reports the weekly numbers. The agency started using a new method for …

American consumers increased their spending by just 1.9 percent in July as the economic recovery from the coronavirus pandemic lost some momentum. Last month’s $267.6 billion jump in consumer spending beat economists’ expectations for a 1.5 percent gain even as growth slowed from a strong rebound in the prior two months, the US Commerce Department …

The number of Americans who have applied for unemployment benefits during the coronavirus pandemic grew to more than 58.4 million on Thursday, as 1 million more people filed jobless claims. More than 1 million people have now lost their jobs in 22 of the past 23 weeks, as COVID-19 has ravaged the US economy. The …

House speaker Nancy Pelosi (D., Calif.) on Thursday rejected a request by some House Democrats to vote to extend unemployment benefits through a smaller coronavirus relief package, saying it could undercut negotiations on other Democratic funding priorities. More than 100 House Democrats had urged party leaders to allow a vote on a bill on Saturday …

The U.S. labor market remains unstable as 1.1 million Americans filed for unemployment benefits last week, up from 960,000 the week before. While there were far fewer jobless claims than at the start of the coronavirus pandemic, unemployment benefit applications have hovered between 1-2 million for the past two months, according to the U.S. Department …

Some 1.1 million Americans filed applications for unemployment benefits last week, driving the total for the coronavirus pandemic above 57 million as the labor market struggled toward recovery. Seasonally adjusted initial jobless claims rose above 1 million after falling below that level the prior week for the first time in five months, the latest US …

White House economic adviser Larry Kudlow on Thursday said he expects the US unemployment rate to return to single-digit levels as early as this month and growth in the third quarter at 20 percent or more as the economy recovers from the recession triggered by the coronavirus pandemic. “The key point that I would make …

The U.S. Labor Department reported on Thursday that 963,000 workers filed for unemployment benefits last week, the first time jobless claims have fallen below 1,000,000 since March. The drop in claims may fuel hopes that the labor market is improving after the coronavirus pandemic and subsequent mitigation efforts forced mass closures of businesses. Since March …

Some 963,000 million Americans applied for unemployment benefits last week as initial jobless claims dipped below 1 million for the first time since mid-March, the feds said Thursday. But last week’s filings nonetheless drove the number of unemployment claims filed during the coronavirus pandemic above 56 million. New claims fell from 1.191 million the prior …

The economic impact of the lockdowns and stay-at-home orders has upended many traditional jobs and industries, paving the way for agile entrepreneurs and creative startups to offer new products and services that people need and want. As coronavirus lockdowns have weakened the US economy this spring, causing business closures and layoffs, teenagers are particularly hard …