Finance

6 million people applied for unemployment a year ago. Pain persists

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A person walks under a marquis for a closed down Paramount theater in Oakland, Calif. on Feb. 12, 2021.

JOSH EDELSON | AFP | Getty Images

It’s been a year since unemployment claims peaked at nosebleed levels and signaled the depth and severity of the Covid downturn.

Yet claims for unemployment benefits persist at rates that would be considered high by the standards of past recessions, according to labor economists.

“They are still a weekly reminder of how severe this crisis has been and how deep the economic damage continues to be,” said Daniel Zhao, a senior economist at Glassdoor, a job and recruiting site.

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Source cnbc.com

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