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The Department of Labor reported Thursday that 1.5 million Americans filed initial claims for unemployment during the week ending June 13, bringing a 13-week total to about 45 million claims.Thursday's figures were down about 58,000 from last week's unemployment filings.Weekly claims for unemployment have been falling for nearly three straight months after peaking at about 6 million a week in late March. But weekly unemployment claims remain historically high.Prior to the pandemic, the record high for weekly unemployment claims came in 2006, when 665,000 people filed for unemployment. The Department of Labor has been tracking the statistics since 1967.Economists often use weekly unemployment claims as a reliable tool when predicting unemployment. However, some surveys indicate that initial weekly claims may be underestimating the amount of those unemployed.At least one survey from the Economic Policy Institute found that millions of Americans gave up trying to seek benefits or didn't even attempt to due to states' overwhelmed and antiquated unemployment systems.Until recently, the stock market has been on a steady rise since March despite the staggering unemployment numbers. However, fears of the virus's resurgence caused the market to fall 600 points last week before recovering slightly this week. 1327

The entire cast of the "Guardians of the Galaxy" films signed an open letter in support of James Gunn, the director of the series' first two films.Gunn was recently fired as the director of the upcoming third movie after it was revealed he made a number of offensive jokes on Twitter between 2008 and 2012.We are not here to defend his jokes of many years ago but rather to share our experience having spent many years together on that set making Guardians of the Galaxy 1 and 2. The character he has shown in the wake of his firing is consistent with the man he was every day on set, and his apology, now and from years ago when first addressing these remarks, we believe is from the heart, a heart we all know trust and love," the letter reads in part.The letter was signed by actors Dave Bautista, Bradley Cooper, Vin Diesel, Sean Gunn, Karen Gillan, Pom Klementieff, Karen Killan, Christ Pratt, Zoe Saldana and Michael Rooker.Read the letter in its entirety in the tweet below.  1005

The digital news company Mic has laid off most of its staff, a spokesperson for the company confirmed.The layoffs were first reported Thursday by Recode. It is not yet clear exactly how many employees were affected. Mic declined to comment beyond confirming the Recode report.The company was founded in 2011, and for the past several years has branded itself as a news website geared toward millennials.Mic Publisher Cory Haik also resigned Thursday. In a note to staff that was obtained by CNN Business, Haik called journalism a "tough business.""Our business models are unsettled, and the macro forces at play are all going through their own states of unrest," she wrote. "If anyone tells you they have it figured out, a special plan to save us all, or that it's all due to a singular fault, know that is categorically false. Like the truth, it is indeed complicated."Mic was once a digital media darling, attracting around million in funding from investors. Its biggest backers included Lightspeed Venture Partners, Clark Jermoluk Founders Fund, WPP and WarnerMedia. (WarnerMedia owns CNN.)The company's staff swelled to more than 100 people by early 2016, according to The New York Times, which asked in an article published at the time: "What happens when millennials run the workplace?"But the climate is a tough one for digital media publishers right now. Ad revenue alone hasn't been enough to support these businesses, and Google and Facebook have substantial control over the ad market.Refinery29, HuffPost and Vocativ have all cut staff in the past year. So have CNN Digital, Vice and BuzzFeed.Mic laid off 25 employees in August 2017 as part of a pivot to video. Co-founder and CEO Chris Altchek told staff at the time that the shift was needed because "visual journalism already makes up 75% of the time that our audience spends" with the site.There were signs this year that the environment wasn't improving for Mic. Digiday reported in April that traffic to Mic's website had been plunging.The article also noted that Mic was very reliant on Facebook, citing statistics that showed views on the social media site fell to 11 million views in March compared to 192 million about a year earlier.Still, company executives pushed back on some reports that characterized the situation at Mic as particularly dire. When the Columbia Journalism Review reported in September that the company's board discussed a possible shutdown, Altchek called the report "categorically false."Emily Singer, a senior political reporter at Mic, tweeted Thursday that she was leaving the company."I'm so proud of what we've accomplished here," Singer wrote.Kerry Lauerman, Mic's executive news director, tweeted about the "gutting experience" Thursday."But only love for the extremely resilient and open-hearted team of Mic editors, producers, writers and shooters I had the great honor of working with," he added. "They performed brilliantly often under a cloud of uncertainty."Reached by phone, Lauerman declined to comment further, saying only that the team was packing up all of their things.Several other employees also tweeted news of their departures."I have so much to say, but most importantly the time I spent at @mic was the best of my career," wrote Managing Editor Colleen Curry. "I learned so, so much from brilliant people dedicated to keeping journalism alive."Mic is also in talks to sell at least part of the company to Bustle Digital Group, Recode reported Wednesday. A source with knowledge of the potential deal confirmed that report to CNN Business. 3572

The family of Jacob Blake is hosting a gathering in Kenosha, Wisconsin on Tuesday ahead of President Donald Trump's visit to the city.The event, which will be held near the site where Blake was shot seven times in the back by a Kenosha police officer, will include a press conference with local officials and family representatives. The event will also include a community clean-up, a food drive, a healing circle, and a voter registration booth.Several days after police officers shot Blake during an Aug. 23 altercation, protests in Kenosha grew violent. The city estimates that million in property damages have been caused by looting and burning amid the unrest.Last Tuesday, 17-year-old Kyle Rittenhouse shot three protesters, two of them fatally, after he drove 20 miles to protect local businesses. Rittenhouse has been arrested in connection with the homicides; his lawyer says that Rittenhouse was shooting in self-defense.In recent days, protests in Kenosha have been peaceful and without incident.The event held by Blake's family comes hours before a visit to the city by President Donald Trump. Several Democratic politicians, including Kenosha's mayor and Wisconsin's governor, have asked Trump to reconsider, saying his presence could stoke more violence in the city.Blake was shot during an altercation with police on Aug. 23. Police say they were responding to a call about a man at a party who "shouldn't have been there."Police attempted to take Blake into custody but say he was non-compliant. Officers say they tried to use stun guns on Blake but could still not take him into custody.Blake had previously told officers he had a knife in his vehicle. At one point during the altercation, as Blake approached his car, Officer Rusten Sheskey shot Blake in the back at least seven times. A knife was later found on the floorboard of the car.Blake is still hospitalized and is paralyzed from the waist down. Sheskey has been placed on administrative leave but has not been charged with a crime. 2020

The contention around the 2020 presidential election is having some ripple effects, one of which is an effect on holiday shopping.Experts believe the delayed results are part of the reason there’s been a drop in holiday shopping, which retailers desperately need. So far, this year has been one of the toughest years for retail, especially brick and mortar stores.First, the pandemic forced closures and even as stores reopened, shoppers were initially hesitant to return to in-store shopping. Now, as holiday shopping starts to ramp up, the contentious presidential election has become a significant distraction for shoppers.“Consumers not knowing how to react have hit the pause button on their spending,” said Greg Portell, lead partner in the global consumer practice of Kearney.Portell believes without a clear winner in the presidential election and also acceptance of that victory, the holiday shopping season will not be what retailers needed.“The risk and uncertainty tied to civil unrest and the randomness of it at times, is really going to dampen consumers going into those locations,” said Portell. “That really takes the momentum out of what was a close recovery to what was traditional shopping patterns.”“Between the pandemic, the election,” said Mark Cohen, “it just doesn’t feel like we are going to have a jolly old Christmas.”Cohen, the Director of Retail Studies at the Columbia Business School, explained consumers need tranquility to spend and some excitement to spend the way they normally would for the holidays.“We’ve got a society of highly anxious, insecure, emotional, and battered consumers,” said Cohen, “None of that looks like it fits into any definition of tranquility.”However, some, like John Copeland with Adobe Analytics, caution against full doom and gloom around holiday shopping.“Typically, the day after an election, consumers slow their shopping a little bit,” said Copeland.Adobe Analytics data, gathered through its market-leading Adobe Analytics tool kit, shows in 2016 consumer spending dropped 14% after the election. After the 2018 midterms, it dropped 6%. So far, the day after this election, the drop was around 12%.However, those like Cohen and Portell expect, as the protests and legal battles over the election continue, even fewer people will want to spend money on shopping.If that starts to prove true, Copeland expects retailers will respond with new incentives for shoppers to start shopping at the “normal” holiday pace.“I think what we will see is retailers do more of what we already expect them to do which is pull their discounts and deals sooner into the season,” said Copeland. 2651