World News | Many More Likely Sought Jobless Aid as Virus Surges Back

Washington, Jul 9 (AP) The US government will provide its latest snapshot Thursday of the layoffs that have remained stuck at an elevated weekly pace above 1 million since the coronavirus erupted in March even as newly re-opened businesses have rehired some workers.

Though the weekly toll of job cuts has gradually dropped, the pace of improvement has essentially stalled as companies continue to shed workers.

Also Read | ED Attaches Assets Worth Over Rs 2,200 Cr of Rana Kapoor and Others in Yes Bank Money Laundering Case: Live News Breaking & Coronavirus Updates on July 9, 2020.

A resurgence of confirmed viral cases is threatening to derail what had looked like the start of an economic recovery.

In June, employers added a substantial 4.8 million jobs, and the unemployment rate fell from 13.3% to a still-high 11.1%.

Also Read | Disengagement Between Troops of India & China Completed at Patrolling Point 17, Chinese Army Thinning Out in Finger Area in Ladakh, Say Sources.

But the economy and the job market will likely struggle to sustain their gains amid the surge in reported infections, which threaten to trigger more shutdowns and layoffs. In recent days, Levi's has announced 700 corporate job cuts, and United Airlines has warned of potentially thousands of layoffs this fall. (AP)

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)