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US GDP Suffers Record Collapse, Jobless Claims Point to Stalling Recovery

US GDP Suffers Record Collapse, Jobless Claims Point to Stalling Recovery

BY TOM OZIMEK The U.S. economy suffered a historic collapse in the second quarter of this year, with Commerce Department figures showing gross domestic product (GDP) plummeting by 32.9 percent in annualized terms as business activity ground to a halt due to the pandemic. CJ Editor’s note: GDP swings are typically reported at an annual rate […]

Unemployment Hits Record High as 4.4 Million Workers File Jobless Claims

Unemployment Hits Record High as 4.4 Million Workers File Jobless Claims

BY TOM OZIMEK More than 4.4 million workers in the United States filed unemployment claims during the week ending April 18, while the seasonally adjusted insured unemployment rate surged to a record high of 11.0 percent, Labor Department figures show. The data released on April 23 (pdf) shows that the number of people filing initial jobless claims for the week […]

Unemployment Hits Record High as 5.3 Million Workers File Jobless Claims

Unemployment Hits Record High as 5.3 Million Workers File Jobless Claims

BY TOM OZIMEK More than 5 million workers in the United States filed unemployment claims during the week ending April 11, bringing the seasonally adjusted insured unemployment rate to a record high of 8.2 percent, Labor Department figures show. The data released on April 16 (pdf) shows that the number of people filing initial jobless claims for the […]

BUSINESS | US Jobless Claims Fall Amid Ongoing Labor Market Strength

BUSINESS | US Jobless Claims Fall Amid Ongoing Labor Market Strength

BY TOM OZIMEK The weekly jobless claims report suggests continued strength in the U.S. labor market, with new unemployment claims falling while continued claims see an uptick. Initial claims for state unemployment benefits decreased by 9,000 to 214,000 (seasonally adjusted) for the week ending Jan. 4, compared to the week before, the Labor Department stated in a release (pdf) on Jan. […]