The last 17 weeks since the virus restrictions and close downs kicked in have had claims for unemployment benefits over one million….
Congress has been propping up things with a extra $600 a week for those getting relief …
Some Republicans wanted to stop the extra money….
THAT is unlikely to happen….
But the $600 extra a week will probably be cut back a $100 or more a week….
Some 1.3 million Americans applied for unemployment benefits last week as the coronavirus pandemic kept the US job market under pressure, new data show.
That means workers have submitted more than 51 million initial jobless claims in 17 weeks amid the worst economic crisis since the Great Depression — a number larger than the populations of Texas and Florida combined, according to Thursday’s US Department of Labor figures.
New filings continued their stubbornly slow decline last week to reach their lowest point since layoffs spiked in mid-March. But experts say the recent resurgence in coronavirus infections could throw the recovery off course.New filings continued their stubbornly slow decline last week to reach their lowest point since layoffs spiked in mid-March. But experts say the recent resurgence in coronavirus infections could throw the recovery off course.
“The latest data on initial jobless claims will be scrutinized for clues on whether renewed uncertainty is impacting layoffs,” Bloomberg economist Eliza Winger said in a commentary.
Continuing jobless claims, which measure sustained unemployment on a one-week lag, also ticked down to 17.3 million in the week ending July 4 but remained well above the pre-pandemic levels of fewer than 2 million….