Coronavirus is taking tens of thousands of American jobs
March 19, 2020
Unemployment offices and websites across the country are being overwhelmed as employers close facilities and lay off workers in the face of the coronavirus pandemic. First-time jobless claims for the week ending Saturday jumped by about one-third to 70,000, according to the Labor Department. “Today’s jobless claims statistics provide the confirmation, if it was needed, that the economy has just fallen over the cliff and is turning down into a recession,” said Chris Rupkey, chief financial economist at MUFG Bank in New York.
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