Weekly jobless claims rise for first time in four months in US
Employment in June was lifted by the US’s Paycheck Protection Program, which provides businesses loans that can be partially forgiven if used for wages
23 July 2020 - 17:27
Washington — The number of Americans filing for unemployment benefits unexpectedly rose last week for the first time in nearly four months, suggesting the labour market was stalling amid a resurgence in new Covid-19 cases and depressed demand.
The weekly jobless claims report from the labour department on Thursday, the most timely data on the economy's health, also showed nearly 32-million people were collecting unemployment checks in the first week of July. Relentless labour market weakness puts pressure on the US Congress to extend a $600 weekly jobless benefit supplement, which expires on July 31...
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