Economy

July jobs report could show losses as coronavirus spreads

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Hundreds of unemployed Kentucky residents wait in long lines outside the Kentucky Career Center for help with their unemployment claims on June 19, 2020 in Frankfort, Kentucky.

John Sommers II

Persistently high unemployment claims show the impact of the spreading virus on the workforce, and economists are already warning that July’s employment report could show no progress or even job losses.

The Labor Department said Thursday that initial jobless claims came in at 1.416 million for the week ending July 18, the 18th straight week in which initial claims totaled more than 1 million. The weekly claims also rose for the first time after 15 weeks of declines, and it was coincidentally the same…



Source cnbc.com

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