Another 930,000 leave unemployment in a week as Trump economy continues rapid recovery—but will the virus get in the way?
http://dailytorch.com/2020/07/another-930000-leave-unemployment-in-a-week-as-trump-economy-continues-rapid-recovery-but-will-the-virus-get-in-the-way/
Another net 930,000 Americans left continued unemployment claims the week of July 11, according to the latest unadjusted data from the U.S. Department of Labor as momentum continues to bring millions of Americans back into the labor force. The states with the biggest returns to the labor force were California, Florida and Pennsylvania, with 217,000, 223,000 and 141,000 leaving unemployment claims the week of July 11, respectively. Michigan and Georgia also contributed to the drop in unemployment, falling 99,000 and 97,000 respectively. Since the week ending May 9, unadjusted continuing unemployment claims have dropped from 22.8 million to 16.4 million the week ending July 11, an overall drop of 6.4 million. In the meantime, the Institute for Health Metrics and Evaluation (IHME) estimates about 117,000 new COVID-19 cases a day at the moment, still down 53 percent from it late March peak of 253,000 new cases a day. IHME puts daily deaths are at about 851 today, down 63 percent from its April 17 peak of 2,301. Will the temporary spike in cases after bottoming in June be enough to slow down the economy again?
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