The daily business briefing: July 31, 2020

The number of Americans filing initial claims for jobless benefits rose last week, the second straight weekly increase, the federal government reported on Thursday. A seasonally adjusted 1.4 million people filed for initial jobless claims last week, an increase of 12,000 from the revised figure for the previous week, when unemployment claims rose for the first time in 16 weeks. Continued claims by those already unemployed came in at 17 million, an increase of 867,000 from the previous week. In addition to traditional unemployment claims, nearly 830,000 Americans filed for first-time pandemic unemployment assistance last week, a decrease of 106,000 compared to the previous week. “Right now, temporary layoffs are turning into permanent job losses and families across the country are facing a looming child-care crisis in the fall,” said the Atlantic Council’s Josh Lipsky. [CNN]

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