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Weekly jobless claims fall to 880,000, but layoffs remain high

Weekly jobless claims fall to 880,000, but layoffs remain high
Posted at 6:46 AM, Sep 03, 2020
and last updated 2020-09-03 08:49:54-04

WASHINGTON — The number of laid-off Americans applying for unemployment benefits fell to roughly 880,000 last week, a sign of possible improvement but evidence that the viral pandemic keeps forcing many businesses to slash jobs.

The latest figures, released Thursday by the Labor Department, suggest that nearly six months after the eruption of the coronavirus, the economy is still struggling to sustain a recovery and rebuild a job market that was devastated by the recession.

All told, the government said that 13.3 million people are continuing to receive traditional jobless benefits, up from 1.7 million a year ago.