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Unemployment Claims Topped 1 Million For 16 Straight Weeks

By July 10, 2020Lumber Market

US economy may be stalling out as viral outbreak worsens says AP. The reversals are keeping layoffs elevated and threatening to weaken hiring. More than 1.3 million people applied for unemployment benefits last week, the Labor Department said Thursday, down from 1.4 million the previous week but still roughly double the pre-pandemic weekly record.
Applications had fallen steadily in April and May but have barely declined in the past month. The article originally appeared on AP News.