WASHINGTON – Unemployment remains painfully high in the U.S. even as economic activity slowly picks up. That reality will be on display Thursday morning when the U.S.
government releases data on how many workers sought unemployment benefits last week, as well as how retailers did in June. Both reports will be closely watched as new confirmed cases of coronavirus rise in 40 states, including huge spikes in California, Texas and Florida.
Surging infections threaten to slow the nascent economic recovery. “The risk of a dip lower in the economy has increased as more states adopt policies to combat the virus spread,” economists at Bank of America said in research note. “Until the country manages to get the virus under control, the recovery is.