Our national unemployment crisis could be settling into a long period of despair before things truly improve.
filed for unemployment in the week ending May 16. On the one hand, that’s the lowest weekly total since March 14; on the other hand, it’s still 3½ times as high as the previous weekly record fromMarch, part of a nine-week stretch that’s seen 38.6 million initial claims filed across the country., we might expect the pace of job losses to slow down if businesses are able to reopen and begin bringing workers back . But if that’s going to happen, it’s tough to find much evidence for it yet.
After consistently declining by an average of 16 percent each week from April 11 through May 9, initial claims were down only 9 percent week-over-week in the Department of Labor’s most recent report: Perhaps the silver lining in all this dire unemployment data is the prospect of jobs not being permanently lost — that, through layoffs and furloughs, people might be out of work now but could return to their jobs when their employers reopen. And the
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