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Another 1.5 Million File For Unemployment As States Continue To Reopen Economies, Totaling 44 Million People Unemployed

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(NPR) — The pain in the job market continues as an additional 1.5 million sought jobless benefits for the first time last week, down 355,000 from the prior week. Continued claims fell by 339,000 to 20.9 million, a sign that more people are returning to work as the economy reopens after pandemic lockdowns.

More than 44 million first-time claims have been filed in the past 12 weeks.

The Federal Reserve is projecting that the unemployment rate will be more than 9% by year end, falling to 6.5% by the end of 2021.

That’s down from last month’s lower-than-expected 13.3% rate but up sharply from a nearly 50-year low of 3.5% earlier this year before the coronavirus crisis shut down much of the economy. Employers added 2.5 million jobs in May, but they slashed 20.7 million just a month earlier.

“The May employment report, of course, was a welcome surprise,” Fed Chairman Jerome Powell said Wednesday. “We hope we get many more like it. But I think we have to be honest. It’s a long road.”

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Biden selects California Sen. Kamala Harris as running mate

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WILMINGTON, Del. (AP) — Joe Biden named California Sen. Kamala Harris as his running mate on Tuesday, making history by selecting the first Black woman to compete on a major party’s presidential ticket and acknowledging the vital role Black voters will play in his bid to defeat President Donald Trump.

In choosing Harris, Biden is embracing a former rival from the Democratic primary who is familiar with the unique rigor of a national campaign. Harris, a 55-year-old first-term senator, is also one of the party’s most prominent figures and quickly became a top contender for the No. 2 spot after her own White House campaign ended.

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Biden selects California Sen. Kamala Harris as running mate

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WILMINGTON, Del. (AP) — Joe Biden named California Sen. Kamala Harris as his running mate on Tuesday, making history by selecting the first Black woman to compete on a major party’s presidential ticket and acknowledging the vital role Black voters will play in his bid to defeat President Donald Trump.

In choosing Harris, Biden is embracing a former rival from the Democratic primary who is familiar with the unique rigor of a national campaign. Harris, a 55-year-old first-term senator, is also one of the party’s most prominent figures and quickly became a top contender for the No. 2 spot after her own White House campaign ended.

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Britain Suspends Extradition Treaty With Hong Kong

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Britain has suspended its extradition treaty with Hong Kong dispute following the introduction of China’s national security law.

Britain says the new national security law in Hong Kong breaches agreements made before the handover of the former British colony.

Speaking on Sunday, British Foreign Secretary Dominic Raab told the BBC that it was clear the Uighur minority in China had suffered abuses of their human rights.

Prime Minister Boris Johnson says that the government has “concerns about the treatment of the Uyghur minority obviously, about the human rights abuses,” he promised a “tough” yet balanced approach towards the world’s second largest economy, without abandoning the UK’s “policy of engagement.”

US Secretary of State Michael Pompeo will arrive in London later today for talks with government officials.

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