Unemployed claims in the United States will increase


New jobless claims are expected to reflect continued layoffs, even as it reopens.

Another huge batch of new jobless claims is expected to be reported by the Labor Department on Thursday.

Economists polled by Bloomberg estimated that 1.6 million people filed for state unemployment insurance last week. This would continue to decrease from the more than six million requests recorded in a single week in March, but it would still be an abnormally high number.

More than 40 million state claims have been filed since the coronavirus pandemic caused a general closure of businesses, and 21.5 million unemployed people were receiving state benefits in the previous weekly report. Some of those who are not eligible for state benefits, such as the self-employed, are receiving assistance through a federal emergency program.

“We are slowly seeing the recovery in the labor market begin to take shape,” said Robert Rosener, an economist at Morgan Stanley, but “there are still a lot of layoffs.”

Major European markets fell more than 2% on Thursday, following a string of negative forecasts for the global recovery and data likely to show more job losses in the United States.

Stocks in London, Paris and Frankfurt were all 2 to 3% lower. Earlier in the day, the Japanese and Australian markets fell about 2%. The decline followed a smaller decline on Wall Street on Wednesday.

Xie Yiyi, who was educated in the United States, lost his job last Friday, making the 22-year-old resident of Beijing one of the millions of young people in China left unmoored and shaken by the coronavirus.

On the same day, heeding the advice of one of China’s top leaders, she decided to open a barbecue stall.

Street vendors are seen by many Chinese as embarrassing horrors of the country’s past, when it was still emerging from extreme poverty. In many Chinese cities, officials responsible for enforcing uniformed neighborhood rules called chengguan regularly expel and assault sidewalk vendors with fake jewelry, cheap clothing and spicy snacks.

The coronavirus pandemic has plunged economies into recession and reduced government revenues, so some countries are taking a politically perilous path: removing restrictions on electricity and oil prices.

Just eat takeout said on Wednesday that he had agreed to buy Grubhub for $ 7.3 billion, an agreement that would allow European society to gain a foothold in the United States.

Catching up: here’s what’s going on.

  • Rose Marcario, Executive Director of Patagonia for 12 years, withdrew from June 12, announced Wednesday the brand of outdoor. That did not give any reason for his departure. Patagonia sales fell 50% in North America due to the coronavirus pandemic. The business transition will be led by Doug Freeman, its chief operating officer.

  • Disneyland in Anaheim, California, will reopen on a limited basis on July 17, the theme park’s 65th anniversary, the Walt Disney Company said Wednesday. California Adventure, an adjacent Disney property, will also reopen on this date, with those wishing to visit one or the other theme park required to use a new reservation system. A gradual reopening of Disney hotels in Anaheim will follow on July 23. The plans have yet to be approved by national and local health authorities. Disneyland drew about 19 million visitors last year, making it the second busiest theme park in the world behind the Magic Kingdom at Walt Disney World in Florida, according to the Themed Entertainment Association. The reopening of Disney World is scheduled for July 11. Disney parks in France, Japan and Hong Kong remain closed.

  • Los Angeles County has issued guidelines for film and television production to begin production as early as Friday, but production is more likely to not resume until July at the earliest. Studios and production companies are still waiting for unions to determine work protocols, even though the industry released its own white paper last week which sets out general guidelines for resuming production.

The reports were provided by Clifford Krauss, Li Yuan, Mohammed Hadi, Kate Conger, Adam Satariano, Michael J. de la Merced, Brooks Barnes, Tiffany Hsu, Carlos Tejada and Nicole Sperling.


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