Rise in jobless claims reflects still-struggling US economy
WASHINGTON (AP) – The coronavirus recession struck swiftly and violently. Now, with the economy still in the grip of the pandemic five months later, the recovery looks fitful and uneven – and painfully slow. The latest evidence came Thursday with the government’s report that the number of workers seeking U.S. unemployment benefits rose back above 1 million last week after two weeks of declines. At the same time, a regional manufacturing index grew more slowly in August than in July. Employers are advertising fewer job openings with unemployment still in double digits. Many businesses and consumers remain paralyzed by uncertainty and restricted by lockdowns. Until the pandemic can defeated, any recovery is destined to remain weak.