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

  • AirBaltic will resume flights to Ukraine
    News

    AirBaltic will resume flights to Ukraine

    Latvian airline AirBaltic will resume flights to Ukraine on December 1 and will start a new flight Vilnius-Kiev to Boryspil airport. The schedule includes departures twice a week on Tuesdays and Saturdays on Airbus A220-300. Flights from Vilnius will depart at 09:00, from Kiev – at 11:15. “Vilnius Airport can be used for transit to […]

  • WHO has announced a new record weekly increase in COVID-19 cases
    News

    WHO has announced a new record weekly increase in COVID-19 cases

    Last week, from November 16 to 22, more than 4 million people in the world became infected with the new type of coronavirus, which is a record number since the beginning of the pandemic. This was announced on Tuesday, November 24, the press service of the World Health Organization. According to the WHO, in these […]

  • Citigroup predicted the dollar to fall by 20% next year
    News

    Citigroup predicted the dollar to fall by 20% next year

    If coronavirus vaccines become widely available and help restore international trade and economic growth, the dollar is likely to fall by 20% in 2021. Bloomberg reports that this forecast was made by Citigroup Bank. If the forecast comes true, it will be a record drop since 1985, when the DXY index fell by 18.5% over […]

  • Weekend quarantine: named losses of restaurants
    News

    Weekend quarantine: named losses of restaurants

    During the first weekend of weekend quarantine, catering establishments lost 27% of turnover. This is as of Monday, November 16, according to the platform Opendatabot, citing data from Poster, a restaurant automation company. It is noted that during the week the turnover of cafes and restaurants fell by 10% compared to the previous week. In […]

  • The Moderna vaccine has been tested. It can be approved at an accelerated rate
    News

    The Moderna vaccine has been tested. It can be approved at an accelerated rate

    Reuters reported, In Switzerland, the procedure of accelerated testing of Moderna vaccine has started. This will allow to approve the drug if it passes all clinical trials. “Swissmedic can get an initial idea of the benefits and risks of vaccine candidates before the study is completed. This speeds up the review process and at the […]

  • The WHO hopes to radically change the situation with the coronavirus by March
    News

    The WHO hopes to radically change the situation with the coronavirus by March

    The World Health Organization expects that by the spring of 2021, the situation in the fight against the coronavirus pandemic could change significantly. The main hope is the invention of vaccine against the disease. This was stated by Adviser to the Director-General of the WHO Bruce Aylward. He noted that by March the situation could […]

  • General Motors reports profit growth of 74%
    News

    General Motors reports profit growth of 74%

    Shares of General Motors, down by 3.7% since the beginning of the year, rose by 3.9% in trading after the company announced the results of the 3rd quarter, which ended on September 30. General Motors reported earnings per share increase of 65% to $ 2.83, which was higher than analysts expected $ 1.38. The amount […]

  • The net loss of the world’s largest cinema network increased 16.5 times in the third quarter
    News

    The net loss of the world’s largest cinema network increased 16.5 times in the third quarter

    AMC Entertainment Holdings, which owns the world’s largest network of cinemas, presented its financial report for the third quarter of 2020. His company ended with a net loss of $ 906.5 million – 16.5 times worse than last year. In the third quarter, the company’s cinemas began to reopen after a five-month of lockdown due […]

Read also

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

Lauffer Group will invest 14 million UAH in trade infrastructure

Lauffer Group will invest 14 million UAH in the expansion and reconstruction program of its own trading network. Lauffer Group continues to implement a program of expansion and renovation of its own sales network in Odessa, Kharkiv and Dnipropetrivsk regions, according to ProAgro. In 2015, Lauffer Group invested about  4.25 million UAH in the opening […]

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

The major producer of pig meat will build a station for biogas production in Ivano-Frankivsk region

The agricultural enterprise “Danosha” (Kalushskyi  district) intends to build a station for the biogas production in the village Tustan Galichskyi district, Ivano-Frankivsk region till 2017. It was said by the CEO Christian Jacobsen to the reporters. The plant capacity is 1 megawatt. It will use the raw materials of organic waste of animals and herbage. The installation […]

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

Uber reported a drop in the number of trips, but doubling food delivery orders Eats

Shares of Uber, which rose on 16.7% since the beginning of the year, fell 2.65% after the close of trading on Thursday, in response to the results of the second quarter. Uber management called the quarter “the hardest in history”, given the sharp drop in passenger traffic due to the COVID-19 pandemic. At the same […]

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

Financial Times reported fall of a dollar to 20%

With the appearance of an effective vaccine against coronavirus and the subsequent recovery of the world economy, the US dollar may fall by 20%. This was reported by the Financial Times. It is noted that banks, which already had negative forecasts for the dollar next year, deteriorated expectations against the background of the emergence of […]

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

The “Astarta” agricultural holding will invest 10 million UAH in the development of the industry

The largest producer of sugar in Ukraine, the “Astarta” agricultural holding launched the project on drip irrigation in the Poltava region. The cost of the project is 10 million UAH. “Irrigation technology will be applied to the crops of sugar beet: first, 360 ha, and according to the results of the project in this year, […]

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

The film of a beginner director charmed social networks – more than 1 million views in two days!

French actress and director Maylis de Poncins, author of the sensual short film “Je suis dons tu es” (“I am, therefore you are”), became one of the favorites in the qualifying round of the Only 140 seconds and a lot of meanings – the film won’t leave you indifferent! Maylis de Poncins is a young actress who has proven […]

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

SFGCU initiates a revision of the credit rate

According to Interfax-Ukraine, the  State Food and Grain Corporation of Ukraine  (SFGCU) will initiate a rate decrease. The Eximbank of China  issued the credit to the corporation under Ukraine state guarantees in the amount of 1,5 milliard dollars in 2012. Oleksandr Hryhorovych, the acting CEO of SFGCU said: “We work on the very important issue. […]

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

Business took eight billion of the available loans

Ukrainian banks have already issued UAH 8 billion in available loans under the “5-7-9” program. This was announced by Finance Minister Serhiy Marchenko on the talk show “Freedom of Speech of Savik Shuster”. “Today, 80 coins from the hryvnia loans are provided under the program of ” 5-7-9 “. UAH 8 billion and 3,000 loans […]

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

The World Bank has assessed the consequences of the salary increase in Ukraine

The increase of the minimum wage in Ukraine from UAH 5,000 to UAH 6,500 in 2021 may increase the state budget deficit to more than 6% of gross domestic product. This is stated in the economic review of the World Bank. In addition, the increase in the minimum wage will increase the overall need to […]

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

Boeing reports quarterly losses of $ 2.4 billion and cuts production again

On Wednesday, Boeing announced the financial results of the 2nd quarter, which ended on June 30. Boeing Management noted that the company makes “tough, but necessary steps to adapt for a new realities of market.” Aviation giant is experiencing perhaps the most difficult times in its history, faced with a double crisis. On the one […]

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

Agro Core: a new venture in agricultural business management system

Agro-industrial holding Astarta-Kyiv, the ultimate beneficiary of which is Viktor Ivanchyk and company Borsch Ventures headed by Yevgeny Utkin formed a common company under the name of Agro CORE , the main activity of which will be projects in the field of development of innovative systems which manage agricultural business. This information became known from […]

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

Farmak сan be deprived of license to use the trademark Diazolinum

Commercial Court of Kiev  took to attention  the case of the right’s  deprivation of Farmak Ukraine on the use of certificates for signs for Diazolinum goods. It is reported by a specialized news resource Pharma.net.. A prerequisite to the beginning of the litigation was an appeal of representatives of the international distributor of Farmat LTD […]

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

The world’s biggest tobacco companies sued the British government

Four world’s biggest enterprises who  producing tobacco products – British American Tobacco, Imperial Tobacco, Philip Morris International and Japan Tobacco International appealed this week to the court against the government, where they are opposed to the introduction of a new law in Britain banning branded a pack of cigarettes. According to the law, which will […]

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

McDonald’s sells almost all of its business in China

According to one of the leading US companies – financial information provider Bloomberg L.P., McDonald’s Corporation already has a large share of potential buyers (80%) of Chinese fast food restaurants. The future owner of the assets turned out a syndicate Citic and Carlyle Group companies, which will buy a controlling stake shares of McDonald’s business […]

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

United Airlines announces possible layoffs of more than a third of its staff since October 1

One of the largest airlines in the United States and globally, United Airlines Holdings Inc., warned on Wednesday that it could lay off 36,000 employees since October 1. Almost half of these employees are flight attendants. The company employed about 96,000 people as of December. This step of United confirms the deplorable state of the […]

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

A Federal Court instituted a criminal proceeding against a financial holding company Wilmington Trust Corp.

Federal Court of the United States filed a criminal charge to a large bank  Wilmington Trust Corp. Four former heads of Wilmington Trust Corp. – David Gibson, Robert VA Harrah, William North and Kevin Rakowski are accused of fraud. Professor of the Delaware University – Charles Elson said that it would be unusual criminal proceeding […]

Next
WP2Social Auto Publish Powered By : XYZScripts.com