New Jobless Claims Double in a Week to 6.6 Million

6.6 million U.S. workers filed for new unemployment benefits during the week ending March 28, doubling the previous week’s record total of 3.28 million. Millions more workers are expected to file for unemployment in the weeks ahead, due to the impact of the COVID-19 pandemic. Layoffs, furloughs and hiring freezes have also begun to surge, 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 are the most-timely economic indicator for measuring the impact of the virus on the U.S. economy.
Source: New feed 2