- Nov 5, 2007
Applications for jobless benefits are up again. "What we're seeing now is that lots more people who are unemployed are going to be unemployed for a longer period of time," economist Nick Bunker says.
'Devastated': As Layoffs Keep Coming, Hopes Fade That Jobs Will Return Quickly
From airlines to paper mills, the job news is grim, and there are growing signs it won't be getting better anytime soon. On Thursday, the Labor Department reported nearly 2.4 million new applications for state and federal unemployment benefits last week.
And United Airlines is warning that it may have to furlough as many as 36,000 employees this fall. Demand for air travel has collapsed as a result of the coronavirus pandemic.
The president of the flight attendants union called the warning a "gut punch" but also "the most honest assessment we've seen on the state of the industry — and our entire economy."
Union President Sara Nelson tweeted that demand for air travel had recovered a small fraction of its pre-pandemic levels this summer and "even those minimal gains evaporated over the last week due to surging COVID-19 cases across the country."