US unemployment claims jump to 965,000 as virus takes toll

WASHINGTON (AP) — The number of people seeking unemployment aid soared last week to 965,000, the most since late August and a sign that the resurgent virus has likely escalated layoffs. The latest figures for jobless claims, issued Thursday by the Labor Department, remain at levels never seen until the...

Job openings down in most industries, while layoffs spike

WASHINGTON (AP) — Layoffs spiked in November compared with the previous month and the number of job openings slipped, signaling that the job market has stalled as the resurgent coronavirus has brought about another wave shutdowns of restaurants and bars and hobbled consumer spending. While the layoffs were...

Once again, job losses fall unequally across the US economy

WASHINGTON (AP) — Ten months into America’s viral outbreak, low-income workers are still bearing the brunt of job losses — an unusual and harsh feature of the pandemic recession that flattened the economy last spring. In December, the nation shed jobs for the first time since April. Once...

US loses 140,000 jobs, first monthly drop since spring

WASHINGTON (AP) — U.S. employers shed jobs last month for the first time since April, cutting 140,000 positions, clear evidence that the economy is faltering as the viral pandemic tightens its grip on consumers and businesses. At the same time, the unemployment rate stayed at 6.7%, the first time it hasn't...

US employers cut 140,000 jobs in December, first monthly loss since pandemic erupted in early spring

US unemployment claims slip to still-high 787,000

WASHINGTON (AP) — The number of Americans seeking unemployment aid fell slightly last week to 787,000, a historically high number that points to a weak job market held back by the viral pandemic. Thursday's figure from the Labor Department, a slight decline from the previous week, shows that even with the...

Jobless claims down 19,000, still 4 times pre-pandemic level

WASHINGTON (AP) — The number of Americans seeking unemployment benefits last week fell by 19,000 to 787,000, still a historically high level as a resurgent coronavirus maintains its grip on the U.S. economy. While at the lowest level in four weeks, the figures released Thursday by the Labor Department are...

Some businesses thrived, many lagged during pandemic in 2020

By March 23, Apple had lost $435 billion in market value in about five weeks and many of its retail outlets were shut as the virus pandemic walloped the global economy and stock markets. Meanwhile, a report issued by the National Bureau of Economic Research found that 2% of small businesses surveyed had shut down...

US layoffs remain elevated as 803,000 seek jobless aid

WASHINGTON (AP) — The number of Americans seeking unemployment benefits fell by 89,000 last week to a still-elevated 803,000, evidence that the job market remains under stress nine months after the coronavirus outbreak sent the U.S. economy into recession and caused millions of layoffs. The latest figure,...

Coca-Cola laying off 2,200 workers as it pares brands

The Coca-Cola Co. said Thursday it’s laying off 2,200 workers, or 17% of its global workforce, as part of a larger restructuring aimed at paring down its business units and brands. The Atlanta-based company said around half of the layoffs will occur in the U.S., where Coke employs around 10,400 people....