Pace of US layoffs slows down

As the unemployment claims rose by 1.5 million in the second week of June, the pandemic continues to shatter the economy as the rate of layoffs and furloughs has been historically high. The data for the month of May is now under examination, as the numbers were not adjusted properly, and the data is not as reliable due to the nature of the pandemic. Seasonally adjusting the data is not as easy as it may seem. The ray of hope is that data has revealed that the pace of layoffs has slowed down significantly which is a good sign. Read the whole report here.