US Unemployment Record Rise
The number of Americans applying for unemployment benefits in the two months since the coronavirus took hold in the U.S. has swelled to nearly 39 million, the government reported Thursday, even as states from coast to coast gradually reopen their economies and let people go back to work. More than 2.4 million people filed for unemployment last week in the latest wave of layoffs from the business shutdowns that have brought the economy to its knees, the Labor Department said. It shows that even though all states have begun reopening over the past three weeks, employment has yet to snap back and the outbreak is still damaging businesses and destroying jobs. “While the steady decline in claims is good news, the labor market is still in terrible shape,” said Gus Faucher, chief economist at PNC Financial.
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