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Graphic shows leap in U.S. jobless figures since the nation went into lockdown on March 20.
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BUSINESS

America’s fragile jobs market

By Duncan Mil

August 7, 2020 - The number of Americans seeking jobless benefits fell by 249,000 last week, but a staggering 31.3 million people were receiving unemployment benefits in July, according to the U.S. Department of Labor.

The U.S. economy gained 1.8 million jobs last month, even as the coronavirus surged in many parts of the country, sending workers back home.

The August 7 Labor Department report follows the expiration of a federal $600 weekly unemployment benefits supplement last Friday -- payments that kept many households afloat while buoying the economy.

The United States may be facing the most severe housing crisis in its history, according to an analysis of weekly U.S. Census data released Friday. An estimated 30–40 million people in America could be at risk of eviction in the coming months.

The COVID-19 housing crisis has sharply increased the risk of foreclosure and bankruptcy, especially among small property owners. A broad swath of renters protected by the $600 a month federal pandemic relief payments are now falling behind with bills just as several federal, state and local eviction moratoriums are expiring.

Republicans and Democrats have been at odds over a new emergency package that could restore the supplement in full or in part.

Sources
PUBLISHED: 07/08/2020; STORY: Graphic News; PICTURES: Associated Press
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