Unemployment Claims Are Rising as the Pandemic Surges

Unemployment Claims Are Rising as the Pandemic Surges

The
jobs
crisis
in
the
U.S.
is
worsening
as
weekly

unemployment
claims
reached
a
five-month
high,
according
to
new

unemployment
numbers
released
by
the
Department
of
Labor.

Almost
1.4
million
people
filed
initial
jobless
claims
for
the
week
ending
January
9th,
which
is
many
more
than
economists
expected.

“The
rise
and
level
of
new
unemployment
claims
is
shocking,”
Mark
Hamrick,
Bankrate’s
senior
economic
analyst,
told

Yahoo!
Finance
on
Thursday.
“This
reminds
us
that
the
economic
crisis
has
not
gone
away,
far
from
it,
at
a
time
when
multiple
crises
have
been
vying
for
our
attention.”

The
number
of
continued
jobless
claims
also
exceeded
economists’
expectations,
reaching
nearly
5.3
million
compared
to
the
expected
5
million.

As
of
the
end
of
last
month,
there
were
still
9.8
million
fewer
jobs
in
the
United
States
than
there
were
before
the
pandemic.

The
problem
is
getting
worse.
The

economy

lost
a
net
140,000
jobs
in
December,
even
after
you
adjust
for
seasonal
trends.
The
losses
hit
hardest
among
women
of
color,
who
were
more
likely
to
get
laid
off
in
December
than
hired.
Meanwhile,
both
white
men
and
women
made
gains,

CNN
reports.

That
is
because
women
of
color
work
disproportionately
in
the
sectors
of
the
economy
that
have
been
most
affected
by
the
pandemic

retail,
hospitality,
and
education

and
in
roles
that
are
not
conducive
to
working
from
home.
Many
working
mothers
were
also
forced
to
exit
the
workforce
to
care
for
their
families
as
schools
and
daycares
remain
closed.

“Those
sectors
are
less
likely
to
have
flexibility,
so
when
employers
are
inflexible
or
women
can’t
come
to
work
because
of
caregiving
responsibilities

they
have
to
exit
the
workforce,”
C.
Nicole
Mason,
president
and
CEO
of
the
Institute
for
Women’s
Policy
Research,
told

CNN.

While
last
week’s
job
losses are
nowhere
near
the
levels
seen
at
the
outset
of
the
pandemic,
they
are
at
their
highest
since
the
summer,
and
the
U.S.
is
on
track
to
lose
jobs
for
the
month.
President-elect
Joe
Biden,
who
will
be
inaugurated
next
week,
has
promised
to
create
millions
of
jobs,
including
10
million

clean
energy
jobs,
but

economists
warn
that
it
may
take
the
economy
years
to
fully
recover.

And,
of
course,
Biden’s
ability
to
act
on
his
plans
may
be
hampered
by
Republicans
in
Congress,
who
fought
President
Obama

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