Nearly 900,000 Americans Filed For Unemployment Last Week
October 16, 2020 8:59AM EDT
Unemployment claims went up last week, with 898,000 Americans filing for initial jobless benefits.
That’s nearly 70,000 more than projected and the highest number since August 22nd – pointing at a shaky economic recovery heading into the fall and winter months.
Recent layoffs in the hospitality and airline industries likely contributed to the number. However, the total number of people receiving unemployement benefits dropped by 1.2 million last week.
Could we be headed for another economic recession? Will that impact the November election?