US layoffs exceed 40 mn but some are returning to workMore than 40 million US workers have lost their jobs since the pandemic's arrival, but the pace of layoffs is slowingWASHINGTON - The number of workers filing for jobless benefits since the coronavirus arrived in the United States passed 40 million on Thursday while manufactured goods sales plunged even as signs emerged that people are returning to work. The pace of layoffs passed their peak but continue in massive numbers, with the Labor Department reporting another 2.12 million workers making new claims for unemployment benefits in the week ended May 23. Even so there are more than 21 million people relying on government payments, up from 1.7 million in the same week of 2019. The White House Council of Economic Advisers said on Twitter the decline "suggests a substantial flow from unemployment to employment." But he nonetheless expects weekly claims to drop below one million by the end of June and slow over the coming weeks.

Source: Bangkok Post May 28, 2020 16:30 UTC