United States : unemployment figures are worse than expected

The United States is experiencing an unexpected increase in weekly unemployment registrations.

The labour market situation remains tense in the United States. 1.416 million jobless registrations were registered during the week of 18 July,1.3 million expected and 1.307 million the previous week, a revised figure of 1.3 million. This is the first time that unemployment has risen over a week since it began its slow decline in early April,AFP reports. It must be said that several states have had to close their economic activity in the face of the surge in new cases. Lydia Boussour, economist at Oxford Economics,

estimait dernièrement that 60% of the jobs lost would be recreated by the end of 2020 but still unemployed workers will take much longer to find job opportunities.

The steady flow of layoffs reflects the mixed track record of the PPP program, with some companies such as Abroad Arrangements continuing to downsize while others such as Legacy Toys,

Minnesota, still fail to rehire the majority of staff. And the progression of the coronavirus pandemic does not helpPresident Donald Trump has for the first time admitted that the epidemic is taking on "worrying" proportions in part of the United States, posing a significant danger to the economy