Thursday, June 04, 2020
As protests continue throughout the country over police brutality toward black Americans, it's worth remembering that we're still in the middle of a severe recession. The monthly jobs numbers for May, which will be released Friday, are expected to show we've reached 20 percent unemployment, and that's falling particularly hard on minorities. Fewer than half of black adults are now employed, according to Labor Department data. Brace yourself for more jobless claims in the weekly report Thursday morning. Economists are expecting the federal government to announce that around 1.8 million new people filed for unemployment insurance last week. That's part of a steady improvement since late March, when weekly claims soared as high as 6.8 million. But it's still a distressingly high number " in February, the numbers were in the 200,000s. Before the pandemic, the weekly record was under 700,000, in 1982.
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