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Layoffs curb the progress of the labor market

Layoffs curb the progress of the labor market

After two months of being locked down, millions of Americans have filed for unemployment benefits as a wave of layoffs shook every single industry. First-time claims are on an all-time high, with a record 6.867 million, more than three times higher than the Great Recession. Overwhelmed state unemployment offices are experiencing backlog,s, as many states are now processing applications for gig workers. Read about the layoffs in detail here; https://www.reuters.com/article/us-usa-economy/u-s-labor-market-struggles-as-layoffs-spread-despite-businesses-reopening-idUSKBN22X0C0 

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