• Matt Esnayra

Another 1.3 million Americans filed for Unemployment

1,375,000 Americans filed for unemployment benefits last week, in total 32,003,330 people are on some unemployment, according to data released by the Department of Labor.

  • California's unemployment rate stands at 15.9%

  • Retail sales were up 7.5% in June, according to the Census Bureau.

  • Today's released unemployment data marks the 17th week in a row that claimed unemployment benefits were above 1 million.

  • 51 million unemployment claims have been filed since the onset of the coronavirus pandemic.

Why it matters:

With more Americans filing new unemployment claims and cutting back on spending, plus the mixture of renewed lockdowns and surge in coronavirus cases nationwide, there is a growing fear that the recession could be more severe than previously thought.

What's Next:

Next week is the last week unemployed workers could claim the extra $600 in jobless benefits, the program passed under the CARES Act is set to expire at the end of the month.

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