Many more likely sought US jobless aid even as layoffs slow
By CHRISTOPHER RUGABER AP Economics Writer
WASHINGTON (AP) — 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.