Unemployment Claims Likely Rose as Pandemic Weighs on Economy
The number of applications for unemployment benefits likely edged up last week, another sign that the economic recovery is sputtering, as coronavirus infections hit record levels nationwide.
Economists surveyed by The Wall Street Journal expect the government to report that new unemployment claims, a proxy for layoffs, came in at a seasonally adjusted 800,000 last week. That is up slightly from the 787,000 filed a week earlier.
“That’s nowhere near what we saw in April fortunately. But it’s not a pretty picture,” said Beth Ann Bovino, U.S. chief economist for S&P Global Ratings. “We’re stuck at a level that’s four …
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