Coronavirus Update: Secretary Mnuchin to Work With Nancy Pelosi on Stimulus Package - TheStreet

Coronavirus Update: Secretary Mnuchin to Work With Pelosi on Stimulus Package

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According to Johns Hopkins, There are over 31.9 million cases of the virus worldwide, with over 978,000 deaths.

The U.S. has surpassed 6.9 million cases with 202,000 deaths.

Per the COVID-19 Tracking Project, there were 38,024 new cases reported Tuesday, which is lower than the 49,439 cases reported the day earlier. 842,963 new tests were reported. And 1,138 deaths were reported yesterday, which is higher than the 854 deaths reported the day prior.

The number of Americans filing for jobless benefits remains at historical levels.

On Thursday, the Labor Department reported that 870,000 Americans filed for first-time jobless benefits for the week ending Sept. 19, up from a revised 860,000 claims the week earlier. Economists polled by FactSet had been expecting claims of 850,000.

The number marks the fourth consecutive week of claims below 1 million since the pandemic shut down the U.S. economy in late March, but analysts noted this was mostly due to a change in the way the Labor Department makes its seasonal adjustments, which applied for the first time to the last jobless claims report for August.

The Labor Department said that continuing claims--the number of people not just filing for the first time, but staying on unemployment benefits--came in at 12.58 million, which was revised downward from 12.7 million.

And this comes as Treasury Secretary Steven Mnuchin told the Senate Banking Committee that a targeted stimulus package is still needed and that he would work with House Speaker Nancy Pelosi to resume talks.

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