6.6 Million More Workers File for Unemployment

Another 6.6 million U.S. workers filed for new unemployment benefits during the week ending April 4, bringing the three-week total since March 15 to an unprecedented nearly 17 million workers. Economists suspect that still millions more will be filing for unemployment in the weeks ahead due to the impact of the COVID-19 pandemic. Layoffs, furloughs and hiring freezes are ongoing, especially in the transportation, restaurant, hospitality and retail sectors, as the coronavirus spreads across the country and nonessential businesses have been ordered to close. The weekly jobless claims report is the most-timely economic indicator for measuring the impact of the virus on the U.S. economy.
Source: New feed 2