More than 6.6 million Americans filed for unemployment benefits last week as the coronavirus pandemic's toll on the economy mounts
The U.S. economy continues to shed jobs at a jaw-dropping pace and there’s little sign the payroll losses will ease significantly anytime soon amid the spread of the coronavirus pandemic.
Economists had estimated that 5.5 million workers filed initial claims last week, according to a Bloomberg survey. “There are reasons to think this is only the beginning,” says economist Jesse Edgerton of JPMorgan Chase. In February, he says, there were nearly 50 million workers in industries directly affected by coronavirus-related shutdowns.Should Congress follow Europe's lead on stimulus to help U.S. workers and businesses?Last week, 925,000 workers filed claims in California, just below the prior week’s 1 million.
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