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US weekly jobless claims still elevated; core capital goods orders fall
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WASHINGTON : The number of Americans filing for unemployment benefits held above 2 million last week for a 10th straight week amid job cuts by U.S.
state and local governments whose budgets have been decimated fighting the COVID-19 pandemic and more second-wave layoffs in the private sector.
Signs the economy was spiraling deeper into recession were underscored by other data on Thursday showing business spending on equipment plummeting in April.
The economy contracted in the first quarter at its steepest pace since the 2007-09 recession. Data on the housing market, manufacturing and consumer spending point to a collapse in gross domestic product in the second quarter at a pace last seen during the Great Depression.
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COVID-19
United States
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Cases: 46 252 513
Deaths: 750 423
Recovered: 0
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India
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Cases: 34 321 025
Deaths: 459 652
Recovered: 0
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Brazil
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Cases: 21 835 785
Deaths: 608 235
Recovered: 0
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United Kingdom
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Cases: 9 215 683
Deaths: 141 607
Recovered: 0
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Russia
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Cases: 8 494 589
Deaths: 237 619
Recovered: 0
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