Citing a severe shortage of workers, half of the nation's governors have decided to end extra federal jobless benefits months early. But an economist says that will set back households and businesses.
Initial unemployment claims had been above 1 million for 20 straight weeks. The total receiving unemployment also dipped, to 28.3 million, as of July 25.
New claims for unemployment benefits rise to 1.4 million, a sign that the labor market is deteriorating as businesses close their doors again after the pandemic intensifies.
