US unemployment claims rise by a record 6.65 million – and worse is set to come

The coronavirus pandemic has led to 10 million people applying for unemployment benefits in two weeks, the sharpest increase in American history. 

Economists predicted that the blow to the US economy from coronavirus would be bad. They just didn’t predict it would be this bad. More than 6.65 million people in the country have filed for unemployment benefits in the past week. Around 3.3 million filed the week before that. This means that in the past two weeks a total of 10 million Americans have filed for unemployment benefits. It is the sharpest rise in claims in US history, and by a considerable margin; by comparison, prior to...
source: New Statesman

2020-04-02 18:35
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