Weekly unemployment claims fall below 2 million nationwide, but rise in California – SFChronicle.com
Another 1.9 million Americans filed for unemployment benefits last week, an astronomically high number in normal times, but a positive sign that the record pace of job loss from the coronavirus pandemic is slowing.
Yet the continued flow of unemployment filings, well beyond what is normally seen in a cyclical recession, could be a sign of deepening economic damage as companies that have already furloughed or laid off employees reach a breaking point, experts said. For some businesses, federal aid or the promise of local reopening plans simply aren t enough to bear ongoing losses.