US layoffs remain elevated as 898,000 seek jobless aid

US jobless claims reached 898,000 last week as layoffs remain high 7 months after virus struck economy, Labor Department says.

Associated Press

Oct 15, 2020, 1:43 PM

Updated 1,380 days ago

Share:

The number of Americans seeking unemployment benefits rose last week to 898,000, a historically high number and evidence that layoffs remain a hindrance to the economy’s recovery from the pandemic recession that erupted seven months ago.
Thursday’s report from the Labor Department shows that the job market remans fragile, and it coincides with other recent data that have signaled a slowdown in hiring. The economy is still roughly 10.7 million jobs short of recovering all the 22 million jobs that were lost when the pandemic struck in early spring.
The job search website Indeed said its job postings were unchanged last week, remaining about 17% below last year’s levels. Many employers still aren’t confident enough in their businesses or in their view of the economy to ramp up hiring. Job postings had rebounded steadily over the summer, but the gains have slowed in the past two months.
The recession has disproportionately hurt in-person service industries, especially restaurants, hotels, travel companies and entertainment venues. The damage to those industries has left millions of people unemployed, likely for an extended period until they are either finally recalled to their previous jobs or switch to new careers.
The government’s report Thursday said the number of people who are continuing to receive unemployment benefits dropped 1.2 million to 10 million. The decline signals that many of the unemployed are being recalled to their old jobs.
But it also reflects the fact that potentially even more people have used up their regular state benefits - which usually expire after six months - and have transitioned to extended benefit programs that last an additional three months. The extended aid programs were established by the financial aid package that Congress enacted in the spring.


More from News 12
0:32
Police arrest man in connection to shooting murders in Clinton Hill

Police arrest man in connection to shooting murders in Clinton Hill

1:40
Nearly 300 probationary firefighters join the ranks of FDNY

Nearly 300 probationary firefighters join the ranks of FDNY

1:52
Sunny and warm weather with lower humidity for the weekend in Brooklyn

Sunny and warm weather with lower humidity for the weekend in Brooklyn

1:08
East Flatbush residents 'Occupy the Corner' for a safe summer

East Flatbush residents 'Occupy the Corner' for a safe summer

1:24
G train shutdown impacting Bed-Stuy commuters negatively

G train shutdown impacting Bed-Stuy commuters negatively

1:44
Gun detectors could arrive in NYC subway stations today as NYPD prepares pilot program

Gun detectors could arrive in NYC subway stations today as NYPD prepares pilot program

1:43
Welder Underground unveils ‘Rappin' Max Robot’ through apprenticeship program

Welder Underground unveils ‘Rappin' Max Robot’ through apprenticeship program

0:47
Attorney General James releases body camera footage of fatal officer-involved shooting in East Flatbush

Attorney General James releases body camera footage of fatal officer-involved shooting in East Flatbush

0:24
Police: Suspect wanted for punching 72-year-old man at 25th Street subway station

Police: Suspect wanted for punching 72-year-old man at 25th Street subway station

2:04
Boar’s Head deli meat recalled for potential listeria contamination

Boar’s Head deli meat recalled for potential listeria contamination

1:44
The Real Deal: How to save on expenses amid rising costs in New York

The Real Deal: How to save on expenses amid rising costs in New York

1:36
Students set to receive OMNY cards with more rides and less restrictions

Students set to receive OMNY cards with more rides and less restrictions

1:31
Tenants in Flatbush building say they are living with broken floors, mold, leaks and holes

Tenants in Flatbush building say they are living with broken floors, mold, leaks and holes

1:41
Neighbors describe MTA bus crashing into Burger King in Kensington

Neighbors describe MTA bus crashing into Burger King in Kensington

1:46
YMCA promotes swim safety services on World Drowning Prevention Day

YMCA promotes swim safety services on World Drowning Prevention Day

0:37
Brooklyn DA: Former teacher accused of enticing teenagers to send him explicit images

Brooklyn DA: Former teacher accused of enticing teenagers to send him explicit images

1:14
New lawsuits filed against Gov. Hochul's congestion pricing plan pause

New lawsuits filed against Gov. Hochul's congestion pricing plan pause

1:35
Rally outside Brooklyn Public Library calls for end to alleged 'power grab' from Mayor Adams

Rally outside Brooklyn Public Library calls for end to alleged 'power grab' from Mayor Adams

1:55
Residents say rats are taking over Sheepshead Bay street

Residents say rats are taking over Sheepshead Bay street

0:29
Southwest breaks 50-year tradition and will assign seats; profit falls at Southwest, American

Southwest breaks 50-year tradition and will assign seats; profit falls at Southwest, American