WASHINGTON: A second wave of layoffs amid weak demand and fractured supply chains is keeping new U.S. applications for unemployment benefits elevated, supporting views that the economy faces a long and difficult recovery from the COVID-19 recession.
The weekly jobless claims, the most timely data on the economy's health, remain incredibly high even though employers hired a record 2.5 million workers in May as businesses reopened after shuttering in mid-March to slow the spread of COVID-19.
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