WASHINGTON — The number of Americans seeking unemployment aid rose last week to 742,000, the first increase in five weeks and a sign that the resurgent viral outbreak is likely slowing the economy and forcing more companies to cut jobs. The worsening pandemic and the arrival of cold weather could...
Expired Unemployment Boost, EDD Debacles Sink Jobless Californians
As coronavirus resurges 10 months into a devastating pandemic, many jobless Californians have exhausted their options and are hanging on to what little government support remains. Once padded by an extra $600 a week from the federal coronavirus relief bill, many of the state’s unemployed say their benefits are just enough to...
709,000 Seek US Jobless Aid as Pandemic Escalates
WASHINGTON — The number of people seeking U.S. unemployment benefits fell last week to 709,000, a still-high level but the lowest figure since March and a further sign that the job market might be slowly healing. Yet the improvement will be put at risk by the sharp resurgence in confirmed...
Unemployment Drops to 6.9% and Us Adds a Solid 638,000 Jobs
WASHINGTON — The U.S. job market showed a burst of strength in October, with employers adding 638,000 jobs and the unemployment rate tumbling to 6.9%. Still, the pace of hiring isn’t enough to rapidly soak up the millions of Americans who were thrown out of work by the pandemic recession....
Unemployment Debit Cards Frozen Over Fraud Concerns in California
SACRAMENTO — At least 350,000 debit cards filled with money for unemployment benefits in California have been frozen because of suspected fraud, state officials said, revealing how prevalent the problem has become now that the state has paid more than $105 billion in benefits since March. The Employment Development Department...
California Jobless Rate Dips as Jobs Added Despite Pandemic
SACRAMENTO — California has regained more than a third of the 2.6 million nonfarm jobs the most populous state lost to the coronavirus pandemic in March and April, state officials said Friday. The leisure and hospitality sector accounted for half the overall gain of 96,000 jobs, after experiencing the largest...
US Long-Term Mortgage Rates Fall to Low; 30-Year at 2.81%
WASHINGTON — U.S. long-term mortgage rates fell this week as the key 30-year loan reached a new all-time low for the tenth time this year. Home loan rates have marked a year-long decline amid economic anxiety in the recession set off by the coronavirus pandemic. Mortgage buyer Freddie Mac reported...
US Jobless Claims Rise to 898,000 With Layoffs Still High
WASHINGTON — The number of Americans seeking unemployment benefits rose last week by the most in two months, to 898,000, a historically high number and evidence that layoffs remain a hindrance to the economy’s recovery from the pandemic recession. Thursday’s report from the Labor Department coincides with other recent data that...
What No Trump Stimulus Means for California Schools, Unemployment and More
Last week, as federal stimulus talks crumbled and California’s unemployment system faltered again, Tracy Greer packed her car with recyclables and hoped the cash would pay for groceries. Greer, 48, is an accountant by training who was furloughed from her job as a restaurant server in the high desert town of...
US Layoffs Remain Elevated as 840,000 Seek Jobless Aid
WASHINGTON — The number of Americans seeking unemployment benefits fell slightly last week to a still-high 840,000, evidence that job cuts remain elevated seven months into the pandemic recession. The latest sign of a flagging recovery comes two days after President Donald Trump cut off talks over a new rescue...