Unemployment claims in the United States fell by 48,000 in the week ending Nov. 7, according to the Department of Labour.
The data came in the “Unemployment Insurance Weekly Claims” report published by the department on Thursday.
It said 709,000 people filed initial weekly unemployment claims during the period compared to 757,000 people in the previous week.
The News Agency of Nigeria (NAN) reports that the country’s unemployment figure hit an all-time high of 6.86 million at the height of the COVID-19 pandemic in March, due largely to staff lay-offs by businesses as the economy was shut down to slow the spread of the virus.
The US is currently experiencing an unprecedented rise in daily coronavirus infections and hospitalizations, which many fear could lead to another shutdown of the economy.
Reuters reports that much of the improvement in the labour market came from businesses recalling staff that were either laid off or placed on a leave of absence.
The rebound followed companies and the unemployed accessing their share of more than $3 trillion in government coronavirus relief.
YOU SHOULD NOT MISS THESE HEADLINES FROM NIGERIAN TRIBUNE
The All Progressives Congress (APC) has told a Federal High Court in Abuja, that the Comrade Adams Oshiomhole-led National Working Committee (NWC) was sacked to solve the internal leadership crises rocking the party.
The party also said that immediately the Caretaker/Extraordinary Convention Planning Committee was put in place after the NWC’s dissolution, the crises that had characterised its affairs were laid to rest.
A Kano based industrialist, Chief Kalu Ogbonnaya, has advised the Federal Government to take necessary steps to stimulate the nation’s economy to prevent a recession post COVID-19.
Ogbonnaya who spoke in an interview with the News Agency of Nigeria (NAN) on Thursday in Kano, said as a result of the coronavirus raving the world, no business has been moving.