Many still need jobless benefits as states reopen

Numbers decline but recovery will take time

The number of Americans seeking unemployment benefits continues to slide, but not enough to ease fears that the nation’s economic recovery from the coronavirus pandemic will be painfully slow.

Between 1.3 million to 1.4 million people filed initial applications for unemployment insurance last week, economists estimate. That would fall below the 1.5 million who sought first-time aid the week before and mark the 12th weekly drop in a row as businesses across the U.S. reopen after closing to slow the spread of the virus.

But that lower tally would still mean a staggering 47 million Americans filed first time unemployment claims in just 14 weeks.

The nation experienced an unexpected labor bounce in May, when roughly 2.5 million jobs were added following the loss of 22 million jobs during the previous two months.

Still, the weekly numbers of Americans needing aid because they are out of work far exceed the previous record of 695,000 first-time jobless claims made during a severe recession in the fall of 1982.

Job cuts initially concentrated in the retail, restaurant and travel industries, which were particularly hard hit when people were instructed to stay home, have spread to other sectors, including manufacturing, education and professional services.

Economists expect the unemployment rate to remain high over the next several months, hovering around 10% by the end of the year.

ANDREW LICHTENSTEIN/CORBIS VIA GETTY IMAGES The scope of the health crisis sparked by the coronavirus pandemic may only be matched by its economic fallout.