Over 5 Million More Workers File for Unemployment

Another 5.2 million U.S. workers filed for new unemployment benefits during the week ending April 11, bringing the four-week total since March 15 to 22 million workers. Some economists say the unprecedented surge in unemployment claims could be peaking. Layoffs and furloughs were initially damaging to the transportation, restaurant, hospitality and retail sectors, but have since struck a wider range of occupations, including professional services, public-sector workers and the media. The weekly jobless claims report is the most-timely economic indicator for measuring the impact of the coronavirus on the U.S. economy.
Source: New feed 2