SMLL - Initial Claims For Unemployment Benefits Rise As Restrictions Sustain Uncertainty
By Robert Hughes
The fallout from government-imposed restrictions intended to slow the spread of COVID-19 continues as initial claims for unemployment benefits rose in the latest week. The longer businesses remain closed or limited, the more uncertain a labor market recovery becomes and the higher the probability of a slow and drawn-out economic recovery.
Initial claims for unemployment insurance totaled 1.106 million for the week ending August 15, a rise of 135,000 from the previous week's 0.971 million. The latest week marks the 21st week out of the last 22 weeks of historically massive claims