During the week ending June 13, residents of Northeast Tennessee, an eight-county region that includes Washington, Carter, Sullivan and Unicoi counties, filed 649 new claims for unemployment.
The state has not been denying anyone unemployment insurance benefits for COVID-19 related reasons, such as concerns about contracting coronavirus on the job or being ordered to quarantine. It will allow those on unemployment to continue to receive those benefits.
The labor market is incurring massive damage week after week.
Wall Street surges at open on record rise in May retail sales
Other gainers were JPMorgan Chase, Citigroup, Wells Fargo and Bank of America, which rose by at least 0.8%. The Nasdaq Composite jumped 137 points, 1.4%, ending trading near 9,726.
The Federal Reserve has predicted unemployment will remain in double digits for most of the rest of the year and won't fall back to 5.5% before the end of 2022. Last week the numbers fell again - 580 new claims in Trumbull County and 754 new claims in Mahoning County, pushing the running totals to 24,354 and 29,022.
About 4,100 people in Nebraska have been paid through the 13-week extension of benefits from the federal Pandemic Emergency Unemployment Compensation Program (PEUC), for those who have exhausted state benefits.
"While some Republican policymakers have floated a "reemployment bonus" as a replacement to federal unemployment benefits, the real problem is that millions of Americans won't be receiving a paycheck in the months ahead". Following nine straight weeks of decline to 34,575 initial claims filed the week ending May 30, OH experienced a slight increase the following week to 35,430. The biggest drops in claims were reported in Florida, Texas, Georgia, Michigan and Maine.