New jobless claims continued their COVID-19 surge last week, driving the total number of those filing for unemployment benefits to more than 36 million over the past two months.
Even as many states across the country began easing restrictions and slowly reopening their economies, 2.98 million Americans filed for new unemployment benefits for the week ending May 9, according to data released Thursday by the U.S. Department of Labor.
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President Donald Trump may prohibit some temporary workers from entering the U.S. in an executive order later this month, the Wall Street Journal reported Friday.
Trump’s anticipated order, much like his recent immigration ban, is meant to help mitigate the spread of coronavirus while protecting U.S. workers amid a monumental downturn in the economy, the WSJ reported.
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The U.S. economy lost 20.5 million jobs in April, while the unemployment rate rose to 14.7%, according to Department of Labor data released Friday.
Total non-farm payroll employment fell by 20.5 million in April, according to the Bureau of Labor Statistics report, and the number of unemployed persons rose by 15.9 million to 23.1 million.
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25.4 million Americans have lost their jobs since February through mid-April, the Bureau of Labor Statistics reports — 17.3 million who are unemployed, and another 8.1 million who have left the labor force completely — in response to the Chinese coronavirus pandemic as Americans sit home and wait it out.
Although the Bureau tabulates a reported unemployment rate of 14.7 percent, if you count the 8.1 million who left the labor force, too, plus the 5.8 million who were already unemployed, and the number looks more like 18.9 percent.
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by Robert Romano The unemployment rate will likely continue rising as the spread between the 10-year treasury on one side, and the 2-year and 3-month treasuries on the other, continue rising over the next weeks and months, an analysis of interest rates over the past four recession shows, according to…
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More than 134,000 people filed for unemployment last week in Michigan, adding to the more than 1 million Michigan residents that have sought unemployment benefits during the coronavirus pandemic.
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The Michigan Department of State announced on Wednesday that it will be temporarily laying off more than 900 members of its staff. The layoffs will begin on April 26 and will last at least two weeks.
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More than 1 million people in Michigan have filed for unemployment benefits after nearly 220,000 people asked for government assistance this past week, according to data released by the U.S. Department of Labor on Thursday.
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JPMorgan economists expect the second quarter to be a bad one, with 25 million jobs lost and a sizable chunk taken out of the country’s gross domestic product as the coronavirus pandemic hits its stride.
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The U.S. economy lost 701,000 jobs in March, while the unemployment rate rose to 4.4%, according to the Department of Labor data released Friday.
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By a vote of 96-0, the U.S. Senate has passed a $2.2 trillion legislative package, by far the largest in U.S. history, to keep tens of millions of Americans on payroll and expand unemployment benefits to those who are laid off while the country waits out the deadly Chinese coronavirus that poses additional risk to seniors and those with underlying conditions.
That way, when the virus passes, those businesses, particularly the 30 million small businesses that are struggling most of all right now, but also critical industries, will be able to rapidly reopen and we can get back to our lives.
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The economic fallout caused by the coronavirus pandemic includes massive unemployment caused by government-mandated shutdowns of businesses throughout Michigan.
The U.S. Department of Labor (DOL) reported 129,298 Michigan employees filed unemployment claims last week. Government figures indicate that number has increased from nearly 5,338 people filing unemployment claims reported March 14, a difference of more than 123,960.
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Nearly 3.3 million Americans filed unemployment claims last week, a record number as businesses were forced to shut down to help slow the spread of the novel coronavirus.
The U.S. Department of Labor reported Thursday that 3.28 million claims were filed in the week that ended March 21. That marked an increase of more than 3 million claims over the week prior, when 282,000 claims were filed.
The previous high in a single week, according to the department, was in October 1982, when about 695,000 claims were filed. The nearly 3.3 million claims filed last week is nearly five times the prior record.
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More than 55,000 Michiganders filed unemployment claims between Monday and Wednesday, according to the Department of Labor and Economic Opportunity (LEO).
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The U.S. economy added 273,000 jobs in February, while the unemployment rate was almost unchanged at 3.5%, according to Department of Labor data released Friday.
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What ever happened to that imminent recession the mainstream media was reporting?
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The anti-Trump talking-down-the-economy crowd has America already in a recession, with POLITICO’s Morning Money leading its Thursday morning news with, “…manufacturing in recession and capital expenditures dropping, the strong consumer is the final leg holding up the U.S. economy. But the length of the workweek dipped in July, often a leading signal that employers are cutting back. A sharp slowdown in job creation could follow.”
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The U.S. economy added 130,000 jobs in August, while the unemployment rate remained at 3.7%, according to Department of Labor data released Friday.
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You might have noticed some alarmist reporting from Marketwatch and the Drudge Report implying the economy lost 500,000 jobs last year.
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The U.S. economy added 164,000 jobs in July, while the unemployment rate remained at 3.7%, according to Department of Labor data released Friday.
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