Weekly Claims Inch Lower As Rising COVID-19 Cases Loom Over Recovery

The transcript discusses a significant drop in weekly unemployment claims, indicating labor market improvement. However, a new surge in COVID-19 cases threatens this progress, with record cases reported in the US. In response, cities like New York are imposing restrictions, and others are halting reopening plans. Experts warn that the surge could impact economic recovery, and federal relief is needed, though unlikely soon.

What was the peak number of weekly claims for unemployment benefits at the end of March?

What is the current situation regarding relief from Washington for workers and businesses?