US jobless claims rise to 885,000 amid resurgence of virus

Jobless Claims
New job report shows unemployment rate in Rhode Island dropped once again. (WLNE)

WASHINGTON (AP) – The number of Americans applying for unemployment benefits rose again last week to 885,000 as a resurgence of coronavirus cases threatens the economy’s recovery from its springtime collapse.

The number of applications increased from 862,000 the previous week.

It showed that nine months after the viral pandemic paralyzed the economy, many employers are still slashing jobs as the pandemic forces more business restrictions and leads many consumers to stay home.

Before the coronavirus erupted in March, weekly jobless claims had typically numbered only about 225,000.

The far-higher current pace of claims reflects an employment market under stress and diminished job security for many.

Categories: Coronavirus, News, US & World News