US jobless claims spike above 1mn

Weekly jobless claims in the United States have seen a bump yet again, pushing the number above one million. Analysts had expected a downward trend to continue after claims fell for the first time in the week prior. Plus, struggles continue for Facebook as the social media giant reaches an agreement for a major settlement in a facial recognition suit, while its other social media platform, Instagram, was just slapped with another massive suit over the same issue. Meanwhile, the travel sector has been battered by the Covid-19 outbreak. But while 2020 will go down as one of the worst years ever for that sector, we are only in August and still have a long way to go.

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