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Unemployment spike slows

by Rachel Lynn Aldrich
Posted 5/28/20, 11:48 am

Boeing will cut 12,000 U.S. jobs in the coming weeks, executives announced on Wednesday. Most of the layoffs are in the Seattle area, where the company produces commercial airliners. The cuts highlight the effects coronavirus-related shutdowns have on the economy, including air travel decreasing by 96 percent as of mid-April. Roughly 2.1 million additional workers applied for unemployment benefits last week, according to a U.S. Department of Labor report released on Thursday.

Are things getting better? The number of first-time unemployment applicants has fallen for eight straight weeks. Many states are beginning to slowly reopen their economies, letting salons, restaurants, and gyms get back to business. Even air travel has started to rebound slightly.

Dig deeper: Read Katie Gaultney’s report about how the pandemic is changing the grocery business.


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Rachel Lynn Aldrich

Rachel is an assistant editor for WORLD Digital. Follow Rachel on Twitter @Rachel_Lynn_A.

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  • OldMike
    Posted: Mon, 06/01/2020 04:54 pm

    Boeing might like to place blame for their problems on covid. But before covid ever happened, Boeing's unforced errors, like the 737 Max flight management system flaws--causing 2 disastrous crashes--were damaging Boeing's reputation and sales. 
     

    Boeing has severe management flaws to correct, pandemic or not.

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