Unemployment ticks up

Aug 21, 2020 4:00 pm

After two weeks of decline, the number of Americans who applied for unemployment benefits last week rose to 1.1 million. The U.S. Department of Labor’s report on Thursday highlights the ongoing economic strain from the coronavirus pandemic five months after it started. The unemployment rate stands at 10.2 percent.

Wasn’t it getting better? The number of applications last week fell below 1 million for the first time since March. But more people are beginning to realize their lost jobs are gone for good. The total number of people receiving unemployment benefits did decline last week from 15.5 million to 14.8 million. The federal $600 a week bonus has expired, and the average state unemployment benefit in June was $308 a week. President Donald Trump signed an order offering an extra $300 a week, and 25 states have said they will apply for the additional support.

Dig deeper: Read Charissa Koh’s report in Compassion about how unemployment is leading to a wave of evictions.