BREAKING: 1.3 million workers seek U.S. jobless aid as layoffs remain historically high amid spike in coronavirus cases.
FILE - In this April 24, 2020 file photo, empty United Airlines ticket machines are shown at the Tampa International Airport in Tampa, Fla. United United Airlines will send layoff warnings to 36,000 employees - nearly half its U.S. staff - in the clearest signal yet of how deeply the virus outbreak is hurting the airline industry.
The total number of people who are receiving jobless benefits dropped 700,000 to 18 million. That suggests that some companies are continuing to rehire workers. The intensifying outbreaks and more stringent government restrictions have slowed economic activity in much of the country and may be weighing on hiring. The government’s jobs report for June showed a solid gain of 4.8 million jobs and an unemployment rate that fell to 11.1% from 13.3%.
“This suggests that renewed fears about the virus, rather than government restrictions, are driving the pullback in activity,” said Andrew Hunter, senior U.S. economist at Capital Economics, a forecasting firm. And in the retail industry, the number of shifts worked changed little last week after steady increases in previous weeks. David Gilbertson, a vice president at Kronos, said this suggests that consumer demand in many cases hasn’t picked up enough to justify more employees.
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