Unemployment claims rise as reopenings slow layoffs
Nearly 1.9 million people applied for unemployment benefits last week, pushing total aid recipients to about 21.5 million. The report shows ongoing layoffs despite gradual reopening, with a slow two-stage recovery expected. drops in new claims varied by state, with Georgia and Texas showing declines and New York and Massachusetts still downbeat. Local details mention Chattanooga, Tennessee, and Nneka Ije as part of regional notes.
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Oxford Economics
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Chattanooga
Tennessee
Nneka Ije
Ohio unemployment claims ease but remain near record highs
Ohio's Department of Job and Family Services reported 34 575 initial unemployment claims for the week ending May 30, the lowest since stay at home orders began but still among the highest on record. Total pandemic claims reach 1 29 million, with $3 5 billion paid to over 6 000 claimants.
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Columbus
Wall Street ends slide as S&P slips, Dow flat
U S stock market paused on Thursday with the S&P 500 down 0.3 percent to 3112.35, the Dow up marginally to 26281.82 and the Nasdaq dropping 0.7 percent to 9615.81. Unemployment claims eased for a ninth straight week while productivity fell 0.9 percent in Q1 and labor costs rose 5.1 percent.
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