JUST IN: U.S. employers cut 701,000 jobs in March and the unemployment rate rose to 4.4%. This morning's report is the first to show the initial impacts of the coronavirus pandemic on the U.S. labor market.
The COVID-19 outbreak has brought U.S. businesses to a screeching halt. At least 45 states have issued or announced statewide closures of all non-essential businesses to help stop the spread of coronavirus in the U.S.
People queue to enter Payomatic, a business that offers check cashing, as unemployment claim figures were released, during the coronavirus disease outbreak in Manhattan, New York City, April 2, 2020. People queue to enter Payomatic, a business that offers check cashing, as unemployment claim figures were released, during the coronavirus disease outbreak in Manhattan, New York City, April 2, 2020.
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