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

Boyden starts working in Ukraine

In Ukraine Boyden Global,one of the leaders in the market of personnel recruitment and provision of consulting services will begin work in the nearest future.Executive Search multi-national company. According to Aleksei Dolgikh,the head of the Ukrainian Boyden office: “the working group of specialists is already created and ready to work”. The former director of Pedersen&Partners […]

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

Salesforce announced the purchase of Slack messenger for $ 27.7 billion

Salesforce is one of the world’s largest players in the cloud computing sector. They will buy Slack Technologies, the owner of Slack’s corporate messenger. The Wall Street Journal reports, Messenger will cost Salesforce $ 27.7 billion, which will be the largest acquisition of the company in its history. The terms of the deal include that […]

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

Daimler will pay $ 1.5 billion under a settlement agreement in the United States

German automaker Daimler AG and its US subsidiary Mercedes-Benz have agreed to pay $ 1.5 billion to the US government and California regulators as part of a friendly settlement of a dispute over the manipulation of data on the content of a harmful substances in the exhaust gases of the company’s diesel engines. This stated […]

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

Lego will open 120 new stores in 2020

Lego plans to open 120 new stores in 2020, according to Retail Gazette. The company reported sales growth in the first half of the year. In quarantine kits were very popular, in particular, among adult consumers. “About 80 new outlets will be located in China. Now the company has 612 stores worldwide,” – said Lego […]

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

Dr. Reddy’s plans to expand business in Ukrainian market

Indian Pharmaceutical Manufacturers Association unites the representatives of Indian pharmaceutical companies in Ukraine.  The executive vice president of the Dr. Reddy’s  M. V.  Ramana  pointed out that Ukraine is one of the key markets in which the activity of the company  is focused. International pharmaceutical company Dr. Reddy’s (India) remains optimistic about the Ukrainian pharmaceutical […]

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

The SEC has begun testing the Chinese video service iQiyi

The US Securities and Exchange Commission (SEC) began to test the Chinese video streaming service under the iQiyi subscription, similar to Netflix. The inspection was reported by the Chinese company. In this statement, the ADR companies which trading on the Nasdaq, fell by 13% in price. The paper of Baidu, the main shareholder of iQiyi, […]

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

The largest producer of chicken meat received $8 million losses

As Interfax-Ukraine reported, Mironivsky Hliboproduct Agricultural holding   finished the third quarter 2016 with the net loss of $8 million against $24 million a net profit last year. Following the results of nine months the net profit of the company  is constituted $86 million The Mironivsky Hliboproduct Agricultural holding (MHA)  has received 8 million dollars […]

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

The Colonial Pipeline is having difficulty once again

Customers of the Colonial Pipeline pipeline network, which was restarted after the cyber attack, are having trouble. In particular, they may not reserve fuel supplies, update applications or perform other online access activities. This was announced on Tuesday, May 18, citing anonymous sources among shippers, Bloomberg reports. The company itself said in a comment to […]

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

Ukrainska pravda changed its owner

Olena Prytula, editor-founder of the Ukrainska pravda online publication, and Tomasz Fiala, CEO of Dragon Capital, have entered into an agreement under which 100% of the corporate rights to the publication and all its assets will pass to the Dragon Capital Group. This was reported on the website of the investment company. It is noted […]

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

EX.UA sells its domain for $1m

According to Segodnya.ua,  EX.UA has declared  the domain sale  for 1 million dollars in connection with the termination of work since 1st of December 2016.  There is reported on the website: “We notify that the most expensive UANET domain is sold. The EX.UA domain price is  1 million dollars. 100% of proceeds will be spent for […]

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

The Cargill suspends the sale of seeds, fertilizers and chemicals in Ukraine

The largest American agricultural company Cargill suspends the sale of seeds, fertilizers and chemicals in the Black Sea region, including Ukraine, Russia, Romania, Hungary, Bulgaria and Poland. According to the information of the “Interfax-Ukraine”, after a comprehensive review of its grain and oilseed business in the Central and Eastern Europe, the Cargill decided to stop […]

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

Unilever will invest € 8.3 million in a factory of the tea production of the in the Kiev region

A major manufacturer of products, Unilever Company intends to launch a tea factory in the Kiev region in the second half of 2016. The company has already invested in the project  € 8.3 million.  “Unilever will launch its own tea factory in Gostomel. Unilever works on the project from the middle of 2015, and at […]

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

Facebook explained how the data of 500 million users were published

Facebook reported that the data of 530 million users of the social network were made public after receiving data from the platform through the function of importing contacts, and not as a result of a hacker attack. This is stated in the Facebook report on the incident. It is noted that the attackers stole data […]

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

The external debt of Ukraine added $ 2.5 billion

In the second quarter of 2020, Ukraine’s gross external debt increased by $ 2.5 billion and amounted to $ 122.8 billion, according to the National Bank. In terms of GDP, debt increased to 78.8% from 75.1% at the end of the first quarter. At the beginning of the year the figure was 78.6%. “External debt […]

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

PJSC Chernihiv car will resume full operation in 2017

Etalon Corporation will restore the job of Chernihiv mechanical engineering complex in 2017. This writes the Interfax Ukraine referring to the statement by President of the Company Volodymyr Butko. According to the original source, the resumption of production is scheduled for January next year. Also it is planned to manufacture machinery for about 25 units […]

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

Lincoln introduced the Nautilus hatchback

Automaker Lincoln Motor Company has introduced a new car Lincoln Nautilus. The basic version of the car has a 2-liter turbo engine with a capacity of 250 horsepower. The more powerful version is equipped with a 2.7-liter twin-turbocharged V6 engine with 335 hp. Both models have standard 8-speed automatic transmission. The interior of the car […]

Next
WP2Social Auto Publish Powered By : XYZScripts.com