787,000 New Unemployment Claims Filed In
America This Week Due To Coronavirus (Covid-19)October 23. 2020
President Donald Trump and House Speaker Nancy
Pelosi. It's up to the Democrats and Republicans to work
together to help the economy.
787,000 unemployment claims have been
filed this week in America, due to massive job losses
associated with coronavirus (Covid-19). Unemployment hit
record highs during the pandemic, even surpassing Great
Depression figures.
A number of companies who have been trying to stay
in business during this financial depression were not able to do so.
This greatly contributed to the new unemployment claims that have
been filed. Millions of jobs have been lost in the restaurant, hotel
and airline industries.
STORY SOURCE
Jobless claims: Another 787,000 Americans filed
new unemployment claims last week
Thu, October 22, 2020, 8:31 AM EDT - New
jobless claims unexpectedly dipped below 800,000 last
week, but still remained historically high as hundreds
of thousands of more Americans were put out of work
during the ongoing pandemic.
The U.S. Department of Labor released
its weekly unemployment insurance claims report at 8:30
a.m. ET Thursday. Here were the main metrics from the
report, compared to Bloomberg estimates:
Initial jobless claims, week ended Oct.
17: 787,000 vs. 870,000 expected and a downwardly
revised 842,000 during the prior week. Continuing
jobless claims, week ended Oct. 10: 8.373 million vs.
9.625 million expected and a downwardly revised 9.397
million during the prior week
At 787,000 new jobless claims came in
below 1 million for an eighth straight week, but at a
level that still handily topped the pre-pandemic
one-week record of 671,000 from 1982...
https://finance.yahoo.com
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