A broad measure of layoffs likely continued to hover just below 1.5 million last week, economists say, highlighting a labor market recovery that has lost steam as many states pause or reverse reopenings amid COVID-19 spikes.
Economists surveyed by Bloomberg estimate that Americans filed 1.42 million initial applications for unemployment benefits – a rough measure of layoffs – during the week ending Aug. 1. That would mark a modest drop from 1.43 million first-time claims the week before but suggests the number remains elevated and may well have risen again.
Paul Davidson | USA TODAY