The American labor market continues to experience a severe crisis amid the coronavirus pandemic.
This is evidenced by data from the US Department of Labor, presented on Thursday, August 20.
According to the statistics of the department, for the period from 9 to 15 August, the number of initial applications for unemployment benefits increased to more than 1.1 million. This suggests that more than a million new unemployed have appeared in the United States.
The Labor Department report has already hit the US stock market. Wall Street’s major indices opened lower as labor market recovery slows and the government has to stick with tough government support for much longer than expected.