WASHINGTON — A major source of income for roughly 30 million unemployed people is set to end, threatening their ability to meet rent and pay bills and potentially undercutting the fragile economic recovery. In March, Congress approved an extra $600 in weekly unemployment benefits as part of its $2 trillion...
Before New Closures, California Added Record 558,000 Jobs
SACRAMENTO — California added a record 558,000 jobs in June as many more businesses reopened but the gains announced Friday by the state are expected to be short-lived because of new closures put into effect in July as the coronavirus surged. The unemployment rate fell to 14.9%, a staggeringly high...
Powell: A Stronger Job Market Is Key to Combating Inequality
WASHINGTON — Federal Reserve Chairman Jerome Powell stressed Wednesday that the federal government's role in strengthening the U.S. market in the face of a recession is vital in preventing a worsening of economic inequality. Powell said the the Fed would continue to deploy all its financial tools to help "get...
1.5 Million More Laid-Off Workers Seek Unemployment Benefits
WASHINGTON — About 1.5 million laid-off workers applied for U.S. unemployment benefits last week, evidence that many Americans are still losing their jobs even as the economy appears to be slowly recovering with more businesses partially reopening. The latest figure from the Labor Department marked the 10th straight weekly decline in applications...
BP to Cut 10,000 Jobs Worldwide Amid Virus Pandemic
LONDON — Oil and gas company BP announced Monday that it will slash its global workforce by 10,000 jobs as the COVID-19 pandemic slams the energy industry. Chief Executive Bernard Looney said that the cuts will affect office-based roles in BP's global workforce of 70,000 people and come mostly this...
US Unemployment Drops Unexpectedly to a Still-High 13.3%
WASHINGTON — The U.S. unemployment rate fell unexpectedly in May to 13.3% — still on par with what the nation witnessed during the Great Depression — as states loosened their coronavirus lockdowns and businesses began recalling workers faster than economists had predicted. The government said Friday that the economy added...
1.9 Million Seek Jobless Aid Even as Reopenings Slow Layoffs
WASHINGTON — Nearly 1.9 million people applied for U.S. unemployment benefits last week, evidence that many employers are still cutting jobs even as the gradual reopening of businesses has slowed the pace of layoffs. The total number of people who are receiving jobless aid rose slightly to 21.5 million, down...
41 Million Have Lost Jobs Since Virus Hit, but Layoffs Slow
WASHINGTON — Roughly 2.1 million people applied for U.S. unemployment benefits last week, a sign that companies are still slashing jobs in the face of a deep recession even as more businesses reopen and rehire some laid-off employees. About 41 million people have now applied for aid since the virus...
Foreign Fraudsters Hit Washington for Hundreds of Millions in Unemployment Claims
SEATTLE — The first word Seattle political consultant Dayna Lurie had that someone filed for unemployment benefits in her name was when her boss called. “Did you quit without telling me?" he asked. “We got an unemployment form from the state of Washington saying you don't work here anymore.” It...
Fresno Jobless Rate Doubles as Economy Reopening Accelerates
Unemployment in the city of Fresno more than doubled to 15.5% in April as the full force of COVID-19 business shutdowns took hold around the Valley and across the state. Fresno's unemployment rate exactly matched the statewide rate, while the Clovis unemployment rate to 13.0%. Over 37,000 city of Fresno...