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US jobless claims worse than expected despite reopening
A further 1.5 million Americans filed for unemployment last week, a higher-than-expected number that signals the economic damage caused by the pandemic is continuing. Although reopening is underway throughout the country, the number of new applications for benefits fell by just 58,000, the Labor Department said. It was the 13th week in a row the figures have held above one million. The claims remain more than double the pre-pandemic record set in 1982. The smaller-than-expected decline in claims last week likely reflects "some moderation" in the pace of reopening, Wells Fargo economics said. US employers added a ... (full story)