In the United States, the number of Americans who have applied for unemployment benefits is growing again

News

In the United States, the number of Americans who have applied for unemployment benefits is growing again

25.08.2020 News

The U.S. Department of Labor’s weekly report on Thursday showed that the number of initial applications for unemployment benefits in the country rose to 1.106 million in the week ended August 15, which is worse than the forecast of economists at 925 thousand and worse than the previous week, when the figure of 971 thousand was published. The states with the worst statistics were: California, New Jersey and Texas.

The sharp increase in the number of applications in March reflects the conditions when the COVID-19 pandemic began in the country and the government had to “close” entire industries to prevent an increase in the incidence.

The increase in the number of new unemployed last week coincides with an increase in the number of people infected with the new coronavirus. In addition, the difficult situation in which the Americans found themselves, those who lost their jobs due to the coronavirus, may now intensify, since at the end of July the additional payments of $ 600 per week to the traditional unemployment benefits expired.

On August 8, President Donald Trump issued several orders to support the country’s labor market, which include additional payments of $ 400 a week for Americans who lost their jobs due to the pandemic. Payments of $ 300 are covered by state of fund for disaster management, the other $ 100 should be covered by budgets of the state, however, some state governors have declared the lack of financial capacity in terms of a pandemic.

The aid program has so far been approved in only seven states, in addition, experts note that public funding may run out in a few weeks. Congress still has not made the decision with this issue because of differences between the parties.

Thereby, it is not entirely clear how many Americans will receive additional payments, at the same time, analysts point out that the decline in American incomes will have a strong impact on retail sales and the US economy.

An optimistic signal is maintaining the trend of declining re-applications for unemployment benefits: to 14.84 million for the week, ended August 8, which is below the forecast of economists at 15.0 million and the lowest level since the first week of April. The unemployment rate in the US fell to 10.2%, or the lowest level since April. The 4-week average value of applications also decreased: from 1.25 million to 1.18 million, the lowest level since March.

However, experts note that the recovery of the labor market is slow and still far from the level of “pandemic”, when the weekly number of initial applications for unemployment benefits averaged less than 250 thousand.

Only 9.3 million of the 22 million jobs lost between February and April have been restored so far, and the economy has experienced the biggest downturn since the end of World War II in the second quarter, declining by almost 33% year on year.

Economists of Jefferies wrote that they will wait for further reports, because “the next few weeks will tell how fundamental the recent improvement has been” and what to expect, after the end of the additional unemployment benefits.

Other articles

  • WHO has announced another record with COVID-19
    News

    WHO has announced another record with COVID-19

    In the world last week, coronavirus was found in another 2.4 million people – a record high since the beginning of the pandemic. This was reported by the WHO on Tuesday, October 20. “The number of new COVID-19 cases continues to grow rapidly, while the number of new deaths remains relatively stable … As of […]

  • Pfizer submits the application to the FDA for permission to use the emergency vaccine of COVID-19 in November
    News

    Pfizer submits the application to the FDA for permission to use the emergency vaccine of COVID-19 in November

    Shares of the largest US pharmaceutical company Pfizer, down to 3.14% since the beginning of the year, rose to 3.83% on Friday on good news about its vaccine against the COVID-19. Currently, the mTNA candidate vaccine of BNT162b1, developed by Pfizer in the partnership with the German company BioNTech, the mechanism of the action of […]

  • In Japan reported about cyberattacks on the vaccine developers
    News

    In Japan reported about cyberattacks on the vaccine developers

    Since April of this year, Japanese companies and organizations involved in the development of the vaccines that protect against coronavirus infection, periodically experience cyber-attacks. This was announced on Monday, October 19, by Kyodo news agency, with the reference to the experts of the American company CrowdStrike, engaged in the cybersecurity. According to experts of the […]

  • J&J reported about the strong quarter
    News

    J&J reported about the strong quarter

    Shares of Johnson & Johnson, which rose till 1.44% over the past week, on Tuesday closed with a decrease of 2.3%, despite on the publication of a better-than-expected Wall Street experts, a report for 3 fin. quarter. Investors are concerned about the potential consequences of ending the large-scale study of the J&J vaccine against COVID-19, […]

  • Eli Lilly and Regeneron have requested the permission for the emergency use of drugs from COVID-19
    News

    Eli Lilly and Regeneron have requested the permission for the emergency use of drugs from COVID-19

    Eli Lilly and Regeneron have applied to the Food and Drug Administration (FDA) for the permission to use emergency coronavirus drugs. Eli Lilly conducted clinical trials with the placebo group, as a result of which the drug has proven its antiviral action. Regeneron did not provide the research data, but the company’s drug was widely […]

  • Billionaires have increased their wealth to $ 10.2 trillion
    News

    Billionaires have increased their wealth to $ 10.2 trillion

    At the end of July 2020, the dollar billionaires owned a record $ 10.2 trillion. This is evidenced by the results of a joint study by consulting and auditing company PwC and UBS Bank, published on Wednesday, October 7. The previous peak of $ 8.9 trillion was recorded in 2017. Now the number of billionaires […]

  • The EU is ready to help Ukraine to gain access to the COVID-19 vaccine
    News

    The EU is ready to help Ukraine to gain access to the COVID-19 vaccine

    The European Union has expressed its readiness to help Ukraine to gain access to the coronavirus vaccine. This is stated in a statement following the summit, the text of which was published on Monday, October 6, on the website of the European Pravda. The parties agreed that a pandemic threatens the entire world and its […]

  • The US court has lifted the ban on TikTok
    News

    The US court has lifted the ban on TikTok

    Court of the United States in late Sunday night temporarily blocked ban by the administration of President Donald Trump on downloading the TikTok program. This was reported by Reuters on Monday, September 28. Considered, that that the ban was to take effect on Sunday at 23:59 local time (Monday at 6:59 Kyiv time). However, the […]

Read also

In the United States, the number of Americans who have applied for unemployment benefits is growing again
News

Walt Disney has invested $ 400 mln. to the creation of new cable channel

The Walt Disney Company has decided to invest in the creation of successful new cable channel called Viceland, which involve “fresh” audience and raise ratings. A few weeks after the initial investment, Disney has doubled the amount of investment in a digital media company Vice Media; as a result of the total transaction amount is […]

Next
In the United States, the number of Americans who have applied for unemployment benefits is growing again
News

The IMF named the condition for the completion of the corona crisis

The world economy is on the road to recovery amid the pandemic COVID-19, however, the final completion of the corona crisis is possible only in the case of mass use of the vaccine. This was stated by IMF chief Kristalina Georgieva and Chief Economist of Fund Gita Gopinath in their joint paper of the magazine […]

Next
In the United States, the number of Americans who have applied for unemployment benefits is growing again
News

The Polish company Green Factory wants to grow vegetables in the Zakarpatsky region

The Polish company Green Factory is interested in renting 500 hectares for growing vegetables in the Zakarpatsky region. The company plans to create its own raw material base in Ukraine. This is said in the statement of the Zakarpatsky regional administration. “The Representatives of the Polish company Green Factory Holding,  Rytel Arthur and Martin Kusmerovsky […]

Next
In the United States, the number of Americans who have applied for unemployment benefits is growing again
News

The court barred Uber and Lyft from classifying drivers as contractors in California

Uber has already tried to give drivers more autonomy so that they are considered contractors rather than employees. A California court has issued a preliminary order ordering Uber and Lyft to immediately retrain drivers from contractors to company employees. The order will take effect in 10 days. As independent contractors, Uber and Lyft drivers do […]

Next
In the United States, the number of Americans who have applied for unemployment benefits is growing again
News

Amazon announced the launch of Amazon Payment One by scanning the palm

On Tuesday, Amazon announced another innovation – Amazon One technology, which will be tested for the first time in two Amazon Go stores in Seattle. The company has established in their new turnstiles which will be the quicker alternative to make the purchases. The format of the Amazon Go stores is designed so that customers […]

Next
In the United States, the number of Americans who have applied for unemployment benefits is growing again
News

The Court upends in the dispute of owners of the Sky Mall shopping center

The London Court of International Arbitration upends  the long-term dispute between the Arricano Real Estate and Stockman Interhold in respect of ownership of the Sky Mall shopping center. For a long time the conflict over the asset has been one of the most high-profile cases and negative in the sphere of development of Ukraine. May […]

Next
In the United States, the number of Americans who have applied for unemployment benefits is growing again
Analytics

Formation of corporate governance in Ukraine

According to the State Statistics Service on January 1, 2017 it is registered in Ukraine 15 206 join – stock companies, among them there are 3 122 public companies. Despite the 25-year anniversary of the Ukrainian state, the national business has only recently started to rethink management system and effective implementation of global corporate governance […]

Next
In the United States, the number of Americans who have applied for unemployment benefits is growing again
News

Business results of the week from the LDaily

Wary of exceptional access of representatives of China to the latest European technologies, growing business activity and superiority in the competitive strengths of the Celestial Empire, EU representatives propose to establish total regulation, namely The European Commission believes that it should act as a regulator now and tightly control all transactions of the M & […]

Next
In the United States, the number of Americans who have applied for unemployment benefits is growing again
Analytics News

Results of 2016: Annual Business Achivements

The outgoing   2016 was  hard, and not only for business but also for the country in general. It was really difficult but not  fatal: a new tax policy, the integration into the European market, difficulties of investment and many other things. There are  key factors which have affected the development of a business industry much […]

Next
In the United States, the number of Americans who have applied for unemployment benefits is growing again
News

Wizz Air has threatened to close its branch in Kiev

The management of the Hungarian airline Wizz Air will close a branch in Kyiv, that has three passenger liners, if its employees do not agree to stop the union. This is stated in the statement of the European Transport Workers Federation ETF. According to the statment, the conflict began after the decision of Wizz Air […]

Next
In the United States, the number of Americans who have applied for unemployment benefits is growing again
News

The Antimonopoly Committee of Ukraine gave the “Gazprom” two months to pay the fine

The Antimonopoly Committee of Ukraine explained its fine to the “Gazprom” in the amount of 86 billion UAH refferint to noncompliance of contact relations from 2009 on gas transit through the Ukrainian territory by the Russian company, with the result that the “Naftogaz” lost significant incomes from the reduction of pumping volume of the fuel […]

Next
In the United States, the number of Americans who have applied for unemployment benefits is growing again
News

AMD shares rose Against the background of a strong quarter and higher forecasts

Shares of Advanced Micro Devices, increased on 47.4% since the beginning of the year, rose on 10% after the announcement of the financial results of the 2nd quarter, which ended on June 27, and the publication of optimistic forecasts, despite the pandemic. The report was preceded by a sharp rise in shares of AMD after […]

Next
In the United States, the number of Americans who have applied for unemployment benefits is growing again
News

The major producer of sunflower oil Allseeds challenged in the court the allocation of land in Yuzhny sea port

Allseeds group companies challenged in court the decision of the Vizirskyi village council (Odessa region) on the allocation of land for the berths of the “Energo Products Co., Ltd.” company (Odessa) in the Yuzhny sea port. The Comintern District Court of Odessa region (included in Allseeds Group) decided to suspend the decision on the suit […]

Next
In the United States, the number of Americans who have applied for unemployment benefits is growing again
News

Nokia has become a 5G supplier for Telia in Scandinavia and the Baltics

Finnish corporation Nokia will supply about 7.5 thousand 5G transmitters for Telia in Finland, Scandinavia and the Baltics, the equipment supplier said on Wednesday. Telia is a telecommunications company. The headquarters is located in Stockholm. The company’s largest shareholders are the governments of Sweden (37.3%) and Finland (11.7%). The company serves all government communications resources […]

Next
In the United States, the number of Americans who have applied for unemployment benefits is growing again
News

Ukrzaliznytsia will purchase from oil trader 65 thousand tons of diesel fuel

Ukrzaliznytsia subsidiary Center software production signed five agreements with oil provider regarding purchase of 65 thousand tons of diesel fuel. This volume should be enough for two and a half months to ensure stable passenger – and freight  transport. This was announced today from the data message posted on the official website of Ukrainian Railways. […]

Next
In the United States, the number of Americans who have applied for unemployment benefits is growing again
News

Georgian investor bought a part of the Ukrainian pharmaceutical company

The Georgian Industrial Group purchased 25% of the Ukrainian pharmaceutical company, which is 70% owned by the state. Buyer of the is Luraq Investments Limited (Limassol, Cyprus), which is part of the Georgian Industrial Group (Georgian Industrial Group, GIG) bought the last 25% of the insulin producer “Indar”, PJSC (Kyiv). This information was published by […]

Next
WP2Social Auto Publish Powered By : XYZScripts.com