Unemployment still rising in US

9th October 2020 (Last Updated October 9th, 2020 07:53)

9 October

The US economy showed some signs of recovery in the third quarter of 2020 but unemployment claims continue to remain above pre-pandemic levels.

Layoffs are expected to rise over the next few months hampering recovery.

Ben Casselman, economics/business/data reporter for the New York Times, shared an article on applications for unemployment benefits continuing to remain high in the US.

More than 800,000 people filed for new claims in the last week, according to the US Labour Department.

Further, 464,000 people filed applications for benefits under the federal Pandemic Unemployment Assistance programme.

The article noted that the level of claims is still very high indicating a slowdown in recovery.

Experts opine that without additional aid, layoffs will rise even as millions of workers who lost their jobs early in the pandemic still remain unemployed.

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