Unemployment claims fall in Florida for the third straight week

Daniel Fowler
August 7, 2020

The gap in the US jobless rate between whites and Blacks widened for a third straight month in July, making the gulf between the races the widest in more than five years, Labor Department data released on Friday showed. However, the Labor Department said some workers continue to be misclassified, and the jobless rate would have been a full point higher than reported.

While a better-than-expected number, July's job gains fell far short of June's 4.8 million increase and May's 2.7 million gain, and indicates that only around 40 percent of the jobs lost due to pandemic-driven shutdowns have come back.

Estimates varied widely amid escalating fears that a flare-up in COVID-19 cases across the country and a fresh round of business closures would derail the job market's early recovery from the worst economic downturn since the Great Depression.

"The steam has gone out of the engine and the economy is beginning to slow", said Sung Won Sohn, a finance and economics professor at Loyola Marymount University in Los Angeles.

The largest employment gains were in leisure and hospitality and retail, the sectors hardest hit by the coronavirus shutdowns, the report said.

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The statue is the original plaster version of the celebrated marble statue which sits in the Galleria Borghese in Rome . The statue in question was a plaster cast of Napoleon's younger sister, Paolina Bonaparte by sculptor Antonio Canova .

Employment change by industry, according to a Bureau of Labor Statistics report released on August 7, 2020.

The number of continuing weeks of unemployment claims was 104,970.

If those predictions hold true, America would still be down some 13 million jobs since February, and the unemployment rate would still be higher than at the peak of the 2007-09 financial crisis.

Oxford Economics senior USA economist Lydia Boussour says she expects Friday's report to show a loss of 280,000 jobs, rather than a gain. Hiring announcements totaled 246,507 last month, nearly matching the layoffs. "Consumers are buying fewer goods and services, businesses are closing, and bankruptcies are rising". The Democrat-controlled House and Republican-led Senate are now negotiating over whether to pass a second stimulus bill.

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