The number of laid-off workers seeking U.S. unemployment benefits climed to 1.1 million last week after two weeks of declines, evidence that many employers are still slashing jobs as the coronavirus bedevils the U.S. economy. Jobless claims had fallen last week below 1 million for the first time since March, to 971,000. The total number of people receiving unemployment aid declined last week from 15.5 million to 14.8 million, the government said Thursday. President Donald Trump has signed an executive order to provide US$300 a week in federal unemployment aid, with money drawn from a disaster relief fund. But spending on travel, entertainment and many other services remains weak.

Source: The Standard August 20, 2020 14:03 UTC