In US\, many more likely sought jobless aid as Covid-19 surged back

In US, many more likely sought jobless aid as Covid-19 surged back

In June, employers added a substantial 4.8 million jobs, and the unemployment rate fell from 13.3% to a still-high 11.1%

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United States | Coronavirus | job loss

AP | PTI  |  Washington 

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A resurgence of confirmed viral cases is threatening to derail what had looked like the start of an economic recovery.

The US government will provide its latest snapshot Thursday of the layoffs that have remained stuck at an elevated weekly pace above 1 million since the pandemic erupted in March even as newly re-opened businesses have rehired some workers.

Though the weekly toll of job cuts has gradually dropped, the pace of improvement has essentially stalled as companies continue to shed workers.

A resurgence of confirmed viral cases is threatening to derail what had looked like the start of an economic recovery.

In June, employers added a substantial 4.8 million jobs, and the unemployment rate fell from 13.3% to a still-high 11.1%.

But the and the job market will likely struggle to sustain their gains amid the surge in reported infections, which threaten to trigger more shutdowns and layoffs. In recent days, Levi's has announced 700 corporate job cuts, and United Airlines has warned of potentially thousands of layoffs this fall.

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First Published: Thu, July 09 2020. 18:35 IST