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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