01 Jun 2020

U.S. Jobless Claims Pass 40 Million

As US jobless claims surpass 40 million as a result of lockdown measures combatting the spread of COVID-19, Nordstrom sales dropped 40% in the first quarter. Other companies are also trying to relieve economic pressure, with airlines such as Delta and American offering buyouts to their employees. Delta has offered

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21 May 2020

China focused on jobs as national legislature meets

China is seemingly following the US and other governments in distributing stimulus spending checks to restart its economy, which has been crippled by months of strict lockdown measures. On Friday, companies and the public will meet for the ceremonial national legislature to discuss this option. Although China reopened in March

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08 May 2020

Coronavirus: Pandemic sends US jobless rate to 14.7%

In April, the US unemployment rate has reached 14.7%, higher than that experienced during the Great Depression of the 1930s, with 20.5 million jobs lost due to the coronavirus pandemic. Two months ago, the unemployment rate hit a 50-year low, experiencing a 3.5% jobless rate. On Thursday, released data showed

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24 Apr 2020

Virus pushes US unemployment toward highest since Depression

The United State’s unemployment levels are nearing those seen during the Great Depression of the 1930s. Currently, 1 in 6 American workers have been temporarily laid off due to the current COVID-19 pandemic, according to new data released on Thursday. The deepening economic crisis caused Congress to pass a $500

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09 Apr 2020

U.S. Unemployment Claims Total 6.6 Million Last Week

Last week, 6.6 million Americans filed for unemployment claims as efforts to halt the Covid-19 spread result in thousands of businesses and workplaces closing, leaving their employees without an income. In the week ending on April 4, 6.6 million unemployment applications were filed, a slight decrease from the previous week

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26 Mar 2020

The Latest: 3.3M US jobless claims tops record set in 1982

Last week, 3.3 million Americans applied for unemployment benefits as a result of their place of employment closing amid the pandemic, which is more than quadruple the previous record set in 1982. China has also expressed discontent with the “Wuhan virus” name for the COVID-19 virus, and the Health Minister

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18 Jan 2019

‘Tens of Thousands’ of Government Contractors Laid Off Due to Shutdown

While the country’s unemployment rates are at a low, the next report could reflect some side effects of the shutdown: namely “tens of thousands” of layoffs by contractors who are losing around $1.5 billion per week. With 9,000 federal employees furloughed, employment is but one of the economic areas seeing

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