BREAKING: Labor Department releases update on jobless claims as economic fallout from the coronavirus pandemic lingers

MAY 21, 2020

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As the most reliable and balanced news aggregation service on the internet, DML News App offers the following information published by USATODAY.COM:

Layoffs fueled by the coronavirus pandemic continue to mount.

About 2.4 million Americans filed initial unemployment benefit claims last week, the Labor Department said Thursday, as the health and economic crisis sparked by the coronavirus ruptures a growing number of industries.

The article goes on to state the following:

In just nine weeks, 38.6 million have sought jobless benefits that represent the nation’s most reliable gauge of layoffs.

The U.S. Labor Department announced Thursday morning: “Unemployment Insurance Weekly Claims. Initial claims were 2,438,000 for the week ending 5/16 (-249,000).
Insured unemployment was 25,073,000 for the week ending 5/9 (+2,525,000).”

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