UPDATE: About 1.5 million laid-off workers applied for U.S. unemployment benefits last week, evidence that many Americans are still losing their jobs even as the economy appears to be slowly recovering with more businesses partially reopening.
The latest figure from the Labor Department marked the 10th straight weekly decline in applications for jobless aid since they peaked in mid-March when the coronavirus hit hard.
Still, the pace of layoffs remains historically high.
The total number of people who are receiving unemployment aid fell slightly, a sign that some people who were laid off when restaurants, retail chains and small businesses suddenly shut down have been recalled to work.
ORIGINAL STORY: The U.S. government is set to issue its latest report on the layoffs that have left millions unemployed but that have markedly slowed as many businesses have partially reopened and rehired some laid-off workers.
The pace of job cuts has declined in the nearly three months since the coronavirus struck hard, forcing business closures and sending the economy into a recession.
The dwindling pace of jobless claims suggests that the devastation in the job market may have bottomed out.
Still, by historical standards the number of weekly applications remains high.
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