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The shock of the coronavirus is hitting the economy like another Great Depression — and Americans aren’t alone in their misery. A tsunami of job losses and welfare claims in Britain, the European Union and Asia in the last two weeks parallel the 10 million unemployment claims in the US as businesses around the world …
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Pan-dammit, the employment numbers for March were truly shocking! That doesn’t understate what can be said about the employment report for last month that was released by the Labor Department Friday morning. It was so shocking, in fact, that it’ll make the experts reconsider how bad the job numbers are going to get in the …
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The US economy shed 701,000 jobs last month as the coronavirus crisis brought the nation’s nine-year hiring streak to a screeching halt, new federal data show. The losses in non-farm payrolls reflected a massive contraction from February, when the economy added 273,000 jobs. The unemployment rate rose nearly a full percentage point to 4.4 percent …
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Stocks sank for the third day in a row on Thursday as a massive spike in US unemployment claims roiled Wall Street. The Dow Jones industrial average dropped as much as 167.81 points, or 0.8 percent, at the open after the feds revealed more than 6.6 million people filed initial jobless claims last week as …
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More than 6.6 million Americans applied for unemployment benefits last week as the coronavirus continued to gut the US labor market, the feds said Thursday. The seasonally adjusted number of initial jobless claims reported by the US Labor Department surpassed the prior week’s record-shattering revised total of 3.3 million — another signal that the pandemic …
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US private payrolls dropped in March for the first time in 2 1/2 years, likely as businesses shut down in compliance with strict measures to contain the coronavirus epidemic, supporting economists’ views that the longest employment boom in history probably ended last month. The ADP National Employment Report on Wednesday showed private payrolls fell by …
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Roy Coleman Jr., a personal trainer in Seattle, says he has been unable to file for unemployment due to a high volume errors on the government’s website, Everett, Wash., March 27, 2020. An economist with the St. Louis Fed is projecting coronavirus could cost 47 million Americans their jobs, resulting in a 32.1 percent unemployment …
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Crashing websites and jammed phone lines are preventing workers put out of a job by the coronavirus crisis from even applying for unemployment benefits. Some are so frustrated by the endless dropped calls that they’ve considered just giving up — even if it means foregoing some much-needed cash. “You want to keep trying because you …
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As workers across the globe face layoffs and furloughs, a few sectors, like those in the food industry, need to hire as demand for their services surges. Grocer Stop & Shop, for example, will hire at least 5,000 new associates for regular part-time positions in its stores, distribution centers and delivery operations across New York, …
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U.S. unemployment claims surged by 3.28 million last week, the highest number ever recorded in a single week and more than quadruple the previous record, according to Labor Department data released Thursday. The data showed claims surged by over 3 million in a week alone — a stark contrast to a historic low of barely …
The shock of the coronavirus is hitting the economy like another Great Depression — and Americans aren’t alone in their misery. A tsunami of job losses and welfare claims in Britain, the European Union and Asia in the last two weeks parallel the 10 million unemployment claims in the US as businesses around the world …
