Unemployment claims went up last week, with 898,000 Americans filing for initial jobless benefits.
That’s nearly 70,000 more than projected and the highest number since August 22nd – pointing at a shaky economic recovery heading into the fall and winter months.
Americans filed another 898,000 first-time jobless claims last week on a seasonally-adjusted basis. That's up 53,000 from the prior week. https://t.co/0UORXbtwXk
— CNN Breaking News (@cnnbrk) October 15, 2020
Recent layoffs in the hospitality and airline industries likely contributed to the number. However, the total number of people receiving unemployment benefits dropped by 1.2 million last week.
If that’s not enough, Mitch McConnel has basically killed any the new relief bill.
NEW: Mitch McConnell says he will not put a potential $1.8 trillion+ deal struck by Democrats and the Trump administration on the Senate floor.
"My members think half a trillion dollars, highly targeted is the best way to go." https://t.co/3yHiAmdtkK
— Axios (@axios) October 15, 2020
Could we be headed for another economic recession? Will that impact the November election?
