COLLEGE STATION – Initial unemployment claims in Texas shot up last week to almost 129,800 as the number of COVID-19 cases in Texas continued to increase.
The week ending July 4 was the worst for new claims since the week of May 16th.
Since March 21, nearly 2.8 million claims were filed in Texas, according to data from the U.S. Department of Labor (DOL).
Continuing unemployment claims decreased the week of June 27 to 1.21 million.
“Further waves of infections can reverse increased mobility and spending, affecting the path to recovery,” said Real Estate Center Research Associate Paige Silva. “The second wave of COVID-19 cases in Texas has already prompted a partial scaling back of the reopening and a pause in future reopening plans.
“The rise in initial claims does not bode well for a full recovery at a time when COVID-19 cases continue to increase.”
In the U.S., initial unemployment claims over the past 16 weeks ticked up to 49.96 million, but weekly numbers are declining. Continuing claims decreased for the fifth straight week during the week of June 27.
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