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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 6, bringing a three-month total to about 43 million.Thursday's report marked the tenth straight week of declining unemployment numbers, as every state has begun the process of lifting coronavirus-related lockdowns.The report also comes a week after the U.S. Bureau of Labor Statistics said the U.S. unemployment rate actually fell a full percentage point — an encouraging sign for the economy.But despite last week's report, 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 weekly initial 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.Despite the staggering unemployment figures, the stock market has been on a steady rise since reaching a four-year low in March. Markets have been buoyed by stimulus from both the Federal Reserve and Congress, as well as encouraging reports from health experts regarding the potential development of a COVID-19 vaccine. 1553
The Food and Drug Administration on Wednesday authorized the first rapid coronavirus test that doesn’t need any special computer equipment to get results.The 15-minute test from Abbott Laboratories will sell for , giving it a competitive edge over similar tests that need to be popped into a small machine. The size of a credit card, the self-contained test is based on the same technology used to test for the flu, strep throat and other infections.It’s the latest cheaper, simpler test to hit the U.S. market, providing new options to expand testing as schools and businesses struggle to reopen and flu season approaches. The FDA also recently greenlighted a saliva test from Yale University that bypasses some of the supplies that have led to testing bottlenecks.Both tests have limitations and neither can be done at home. Several companies are developing rapid, at-home tests, but none have yet won approval. Abbott’s new test still requires a nasal swab by a health worker, like most older coronavirus tests. The Yale saliva test eliminates the need for a swab, but can only be run at high-grade laboratories.And in general, rapid tests like Abbott’s are less accurate than lab-developed tests. The FDA said in a statement announcing the decision that negative results with Abbott’s test may need to be confirmed with a lab test in some cases. The agency granted Abbott’s test an emergency use authorization late Wednesday for patients with suspected COVID-19.The two additions should help expand the number of available tests. The U.S. is now testing about 690,000 people per day, down from a peak of 850,000 daily tests late last month. Many public health experts believe the country will soon need to test vastly more people to find those who are infected, isolate them and contain the virus.The FDA noted that Abbott’s test could be used in a doctor’s office, emergency room or some schools. “Given the simple nature of this test, it is likely that these tests could be made broadly available,” the FDA said.Since the start of the pandemic, nasal swab tests that are sent to a lab have been the standard for COVID-19 screening. While considered highly accurate, the tests rely on expensive, specialized machines and chemicals. Shortages of those supplies have led to repeated delays in reporting results, especially during a spike in cases last month.Government and health experts view rapid tests that can be run outside the laboratory system as key to boosting capacity.“Those screening tests are what we need in schools, workplaces and nursing homes in order to catch asymptomatic spreaders,” said Dr. Jonathan Quick of the Rockefeller Foundation, in an interview earlier this month. The nonprofit group has called for the U.S. to conduct about 4 millions per day by October, mostly rapid, point-of-care tests.Abbott’s BinaxNOW is the fourth rapid test that detects COVID-19 antigens, proteins found on the surface of the coronavirus, rather than the virus itself. It’s considered a faster, though sometimes less precise, screening method. The other tests need to be inserted into a small machine.Inside the Abbott test is a specially coated strip that interacts with COVID-19 antigens. The patient’s nasal swab is inserted into the card and a few drops of a chemical solution are added. Markings appear on the card to indicate whether the sample is positive or negative — much like a pregnancy test.Two other makers of antigen tests — Quidel and Becton Dickinson have said they haven’t been able to meet demand for the tests. A third, LumiraDx, plans to begin shipping its recently approved antigen tests by the end of this month. Abbott expects to begin shipping tests in September, reaching 50 million tests a month in October.The influx of antigen tests will go a long way toward meeting the Trump administration’s projection that 90 million COVID-19 tests a month will be available by September if needed. But U.S. “testing czar” Adm. Brett Giroir has stressed that the U.S. can contain the outbreak with far fewer tests.“That’s the capacity ... we do not need that many tests to safely and sensibly reopen,” Giroir told reporters on a recent call. He pointed to several key indicators that have been falling, including new infections and hospitalizations, even as testing has slowed.Earlier this month, the FDA authorized Yale’s saliva-based test, which is expected to cut the time and cost compared with similar tests. It’s the fifth COVID-19 saliva tests OK’d by regulators. All require lab processing.Developed by Yale’s School of Public Health, SalivaDirect can use any sterile container to collect a sample, not the special tube needed with earlier tests, and requires less chemicals. Outside experts welcomed the new approach but noted its limitations.“It’s not a rapid test, it’s a laboratory-based test that will still be prone to the same massive delays as any other test,” said Dr. Michael Mina of Harvard University.___Follow Matthew Perrone on Twitter: @ AP_FDAwriter.___The Associated Press Health and Science Department receives support from the Howard Hughes Medical Institute’s Department of Science Education. The AP is solely responsible for all content. 5201

The Florida recount deadline passed on Thursday afternoon with at least one of the state's largest counties unable to complete the task.Florida law stipulates that any races with margins outside 0.25% can now be certified by law. Races that are still within that range will head to a manual recount of overvotes and undervotes to be completed by Sunday at noon.Election boards in every Florida county have been using voting machines to recount ballots this week, with some of the larger counties working all day and night. There are currently three statewide races -- the contests between Democratic Sen. Bill Nelson and Republican Gov. Rick Scott for Senate; Democratic Tallahassee Mayor Andrew Gillum and Republican former Rep. Ron DeSantis for governor; Republican Matt Caldwell and Democrat Nikki Fried for agriculture commissioner -- that were within the .5% margin required for a statewide machine recount.The fiery race between DeSantis and Gillum is the most likely to come to a formal end. The Republican led by roughly 33,000 votes after the initial count. Gillum, who conceded the race on election night before taking back his concession a few days later, tweeted on Wednesday, "I believe that we win," hinting that he believes the gap could narrow. But there is no evidence yet that he made up enough ground to extend the fight.The two other contests are significantly closer and appear likely to head to a hand recount. Nelson and Scott are divided by roughly 12,000 votes, which is why most of the flurry of recent legal action has been spun out of their race.Palm Beach County missed the deadline, which a court ruled on Thursday afternoon will not be extended.Hours before the cutoff, a federal judge in Tallahassee rejected a Democratic motion to extend the deadline beyond 3 p.m., meaning last week's unofficial count out of Palm Beach County will likely stand.Nelson's campaign and the Democratic Senatorial Campaign Committee argued that deadlines for both the machine and subsequent hand recounts should be lifted for however long is determined is necessary by the counties."The Florida legislature chose to define emergency narrowly -- only as an event that results or may result in substantial injury or harm to the population or substantial damage to or loss of property," Judge Mark Walker wrote in explaining his decision. "The emergency exception does not apply in this case, where the delay is the result of outdated and malfunctioning vote-counting technology."Palm Beach County has been hampered repeatedly by faltering machinery and shoddy infrastructure.Susan Bucher, the county's supervisor of elections, told reporters on Thursday she takes "full responsibility" if the county fails to recount before today's deadline."As a supervisor I take full responsibility. That's my job. It was not for lack of human effort ... it was so incredible, and I thank everybody who participated," she told CNN's Rosa Flores during a press conference.Bucher told reporters a little more than 24 hours before the cut-off, slated for 3 p.m. on Thursday, that she was in "prayer mode." On Sunday, hours after the recount began, Bucher said that completing the process would be "impossible."CNN has not called the Senate race between incumbent Nelson and his challenger, Republican Gov. Rick Scott. Before the recount began, Scott led Nelson by around 12,000 votes. The margin in the gubernatorial race between Republican Ron DeSantis and Democrat Andrew Gillum, which is also subject of the recount, is larger, with DeSantis up on Gillum by around 33,000 votes.Bucher's worries were compounded on Tuesday when the county's old and overheated machines malfunctioned, forcing officials to start their recount of early votes from scratch. By Wednesday, the already distant hopes of an on-time finish seemed to be slipping away.CNN observed long stretches of inaction on the floor of the cavernous facility which has been occupied by reporters, lawyers and operatives from both parties, and volunteers who have been working -- when the hardware complies -- day and night."It's an unusual request to make of your staff. You know, can you leave your kids behind, stay here and I'll feed you sub sandwiches and pizza and you'll work your brains out," Bucher said on Wednesday. "We're trying to meet a deadline that really reasonably shouldn't be there."Democrats agree -- and will make their case in a federal court in Fort Lauderdale on Thursday morning at 9 a.m.Lawyers for Nelson's campaign and the Democratic Senate campaign arm are suing to allow all 67 counties the time they say is required to complete their recounts. According to a legal filing, the Democrats will argue that enforcement of the current deadlines, including another on Sunday at noon for a potential hand review, would violate the constitutional rights of "thousands of Florida voters at risk of disenfranchisement in the 2018 general election."If their suit is rejected and Palm Beach County fails to complete its work on schedule, the state is expected to certify the unofficial results as initially reported ahead of the recount.A spokeswoman for the Florida Department of State told CNN on Sunday that Florida law does not give the secretary of state the authority to grant extensions.Palm Beach County GOP Chairman Michael Barnett told CNN on Sunday afternoon that a blown deadline would be "good news for Republicans, because our candidates (for Senate and governor) are ahead.""If they're not able to meet the deadline, the secretary of state of Florida may go ahead and certify the elections for our candidates," Barnett said. "In that case, you can bet your butt there will be lawsuits filed everywhere."Barnett, who was inside the facility along with Democrats early on in the recount, was critical of the infrastructure there from the start."It's an outdated process," he said. "The machinery is old. They don't have enough updated machinery to go through all the ballots to run one election, let alone all three statewide races."As of 4 p.m. Wednesday, at least 48 of Florida's 67 counties had finished their recounts. Every one of them reached by CNN -- with the exception of Palm Beach -- expressed confidence they would get in under the wire.In a different lawsuit, a federal judge in Florida ruled Thursday that the state must give voters whose mismatched signatures disqualified their provisional and mail-in ballots until Saturday at 5 p.m. ET to correct those signature problems -- extending the deadline by two days. 6536
The Federal Reserve will almost certainly raise interest rates Wednesday at Jerome Powell's first meeting as chairman.The question is what his plans will be for the central bank later this year, as the Fed wrestles with how to prevent the economy from overheating.Some hints may come when Powell and members of the Federal Open Market Committee release their revised economic forecasts. The Fed is likely to stick with its three planned rate hikes this year for now, but may hint at a fourth.The Fed will release its rate hike decision and updated forecasts at 2 p.m. ET. Powell will take questions from reporters at his first press conference a half-hour later at 2:30 p.m. ET.Powell, who began a four-year term last month, has expressed confidence that the next few years will be "good years for the economy" and that many challenges for the economy have faded into the background.That message has been echoed by Powell's colleagues on the Fed board.Fed Governor Lael Brainard, who has advocated slower rate hikes, has more recently expressed optimism about the trajectory of the economy. Those cheery comments suggest she may support faster action by the Fed to tighten monetary policy."Many of the forces that acted as headwinds to US growth and weighed on policy in previous years are generating tailwinds currently," she said earlier this month in a speech pointing to the recent fiscal stimulus from tax cuts and higher spending.Fed officials are assessing the impact of the .5 trillion tax cut enacted earlier this year. The Fed is also watching for signs that inflation is coming closer to the central bank's target of 2%. 1647
The confirmed number of coronavirus cases in the U.S. has reached 5 million, by far the highest in the world. That’s according to the tally kept by Johns Hopkins University. Health officials believe the actual number is perhaps 10 times higher, or closer to 50 million, given testing limitations and the fact that as many as 40% of all those who are infected have no symptoms.The bleak milestone was reached as new cases in the U.S. run at about 54,000 a day. While that’s down from a peak of well over 70,000 in the second half of July, cases are rising in nearly 20 states, and deaths are climbing in most. Many Americans have resisted wearing masks and social distancing. 682
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