jobless
Job seekers wait in line outside of Vertiport Chicago
The number of Americans filing for new claims for jobless benefits continued to rise last week, indicating that the spurt of new infections in Corona and restrictions on companies are increasing layoffs.

The US Labor Department said that the total of new applications for the benefit, adjusted in light of seasonal factors, amounted to 778,000 for the week ending on November 21, compared to 748,000 in the previous week.

Economists polled by Reuters had expected the number of applications to reach 730,000 in the latest week.

The weekly orders report was published a day ahead of schedule due to the Thanksgiving holiday on Thursday.

A new wave of Coronavirus infections has hit the United States, where the daily number exceeds one hundred thousand since early this month, and more than 12 million people have contracted the virus in the country, according to a census conducted by “Reuters” based on official data.

The disease has killed more than 257,000 Americans, prompting state and local governments to re-impose a set of restrictions on social and economic life over the past few weeks.

This could keep jobless claims above the peak of 665,000 the country experienced during the Great Depression between 2007 and 2009.

Applications had fallen from a peak of 6.867 million recorded in March after about 80 percent of employees laid off in March and April were reinstated into work, contributing to most of the job growth boom over the past six months.

Source: Reuters

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