Jobless claims jump 3.2mn in May, but layoffs rate is slowing

Jobless claims jump 3.2mn in May, but layoffs rate is slowing

~3.2mn people applied for unemployment benefits last week owing to Covid-19 pandemic. However this historic wave of layoffs seems to be receding, as the initial jobless claims in the week ended May 2 was less than half the crisis peak of 6.9mn at March end. A separate report by large payroll processor ADP on Wed said more than 20mn jobs were eliminated in April, at least temporarily.

Milan
Milan
Paul
Paul 3 weeks

Layoffs are slowing because they are running out of people to layoff

Joseph
Joseph 3 weeks

In most states if you are unemployed you are making more money and are less of a risk to society.... So yeah, any good boss will layoff employees so they can stay home and make more money.

Julian
Julian 3 weeks

Good ting we locked down da country! Hurrr!! Durrr!!!!

IIzard
IIzard 3 weeks

End the lockdown this is insane

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