COVID-19 has left 45 Mn people in US unemployed

Another 1.5 Mn US employees have filed for unemployment benefits last week, as shared by the Labor Department, bringing the number of people laid off, at least temporarily, by Covid-19 to 45.7 million.

The number of new jobless claims was surprisingly high, a diminution of only 58,000 from the previous week's level, while the insured unemployment rate showing people still receiving aid remained unchanged at 14.1 percent, and 20.5 million continue to receive benefits.

Initial jobless claims for regular state programs equaled 1.51 Mn in the week ended June 13, down slightly from an upwardly revised 1.57 Mn in the week before.

The total number of Americans claiming ongoing unemployment benefits in-state programs, decreased to 20.5 Mn in the week ended June 6, compared with a median projection of 19.9 Mn. These figures are reported with a one-week lag.

By several metrics, the economy has rebounded at a faster pace than many anticipated.

Payrolls at companies increased by several million in May and consumer spending on cars, restaurant meals, and more soared last month, exceeding expectations as states loosened restrictions.