More than 1.5 million Americans filed new claims for unemployment insurance in the second week of June, according to data released by the Labor Department on Thursday.
[...]
Roughly 760,526 Americans also filed new claims for Pandemic Unemployment Assistance, an extension of jobless benefits to workers who lost their jobs during the pandemic but do not qualify for standard unemployment insurance.
[...]
Last week marks the 11th straight week of more than 1 million new claims for unemployment benefits, dating back to the initial lockdowns imposed to slow the spread of COVID-19. While the U.S. added 2.5 million workers to payrolls in May after losing more than 20 million in March and April, the unemployment rate remains at a devastating 13.3 percent, just 1.1 percentage points below the record high of 14.7 percent seen in April.
[...]
The Coronavirus Aid, Relief and Economic Security (CARES) Act signed by President Trump in March added $600 to weekly unemployment benefits, pushing the aid above the average weekly wage in 38 states. Democrats are at odds with Trump and GOP lawmakers over extending those benefits after they expire on July 31 as the economy faces new threats from surging coronavirus cases in Texas, Arizona, Florida and many other states.
Republicans argue that the enhanced unemployment benefits create a disincentive for people to return to work if they can make more money staying home. Democrats counter that extending the boost will protect high-risk workers from potentially lethal trade-offs while supporting the millions of unemployed who worked in leisure and hospitality, travel, entertainment and other fields where the risk of contracting COVID-19 remains high.
The Hill
Stock markets opened down on Thursday following a worse-than-expected unemployment report.
The Dow Jones Industrial Average opened down 200 points, or 0.8 percent, and the S&P 500 was down 15 points, or 0.5 percent.
The Hill
He's right, and it will never happen. But maybe it will allow Republicans to come up with something by contrast.
...but hey, do what you want...you will anyway.
No comments:
Post a Comment