1.48 Million More Apply for Unemployment

By:
Chris Gaetano
Published Date:
Jun 25, 2020
The U.S. Department of Labor reported that 1.48 million more people applied for initial unemployment benefits last week. While lower than the previous week's 1.54 million (which, in turn, was lower than the week before that's data, which in turn was lower than the data from the week before that), it nonetheless remains astoundingly large compared to this time last year, when 227,000 people applied for initial benefits.

New York remains among those most affected, with 90,186 initial claims reported, but it is far below California's total of 287,354 and Georgia's 124,283, the only two states to clear reach six-figure job losses this week, and slightly below that of Florida, which reported 93,394 losses.

The report comes at a time when the initial stirrings of an economic recovery have become threatened by a surge in new infections, according to Bloomberg. Data seems to indicate that people are once more reducing their activities in the face of the resurgence, which has created a leveling off effect on different regions' recent growth. This indicates that whatever recovery emerges will likely be an uneven one, with some places taking longer to rebuild their economies than others.

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