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Another 3.2 million Americans applied for unemployment benefits last week as the coronavirus crisis sidelined 33 million workers in less than two months, the feds said Thursday. That suggests one in five US workers tried to join the nation’s unemployment rolls in the last seven weeks as the pandemic delivered an unprecedented gut punch to …
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US private employers laid off a record 20.236 million workers in April as mandatory business closures in response to the novel coronavirus outbreak savaged the economy, setting up the overall labor market for historic job losses last month. The plunge in private payrolls shown in the ADP National Employment Report on Wednesday suggested that national …
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California has borrowed nearly $350 million in federal funding to pay for surging unemployment claims amid the coronavirus pandemic, the first state to do so. A Treasury Department spokesman told the Wall Street Journal on Monday that the state had already begun to access its pre-approved $10 billion loan for paying unemployment through the end …
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Senator Mitt Romney (R., Utah) released a proposal Friday to raise wages for essential workers for three months, with debates on a possible phase-four relief package intensifying as the Senate returns to D.C. next week. Romney’s plan, titled “Patriot Pay,” calls for bonuses from May 1 to July 31, 2020, for front-line workers in healthcare …
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An additional 3.8 million Americans filed jobless claims in the past week, the Department of Labor reported on Tuesday, amid continuing economic fallout from the coronavirus pandemic. Total U.S. unemployment since the start of the pandemic has soared to 30 million, or 18 percent of the workforce. States are currently formulating plans to reopen businesses …
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US stocks slid Thursday as Wall Street winced at new data showing the coronavirus crisis has put more than 30 million Americans out of work in just six weeks. The Dow Jones industrial average dropped as much as 378.26 points, or 1.5 percent, to 24,255.60 in early trading after the US Department of Labor said …
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More than 3.8 million Americans applied for unemployment benefits last week, meaning the coronavirus crisis has sidelined more than 30 million workers, new federal data show. That means 18.6 percent of the nation’s workforce — more people than the entire state of Texas — tried to collect unemployment checks in the last six weeks as …
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The US economy suffered its fastest contraction since the Great Recession as the coronavirus crisis put the country under lockdown, new federal data show. The nation’s gross domestic product — the value of all goods and services produced here — decreased by an annual rate of 4.8 percent in the first three months of the …
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US consumer confidence plunged in April as millions lost their jobs and there was an unprecedented deterioration of an index that monitors their attitudes about current business and work conditions. The Conference Board said Tuesday that its confidence index tumbled to a reading of 86.9, the lowest level in nearly six years and down from …
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With over 20 million having recently lost work, scammers could swallow lots of stimulus checks. They tell you that there’s a wonderful job waiting for you. Just fill out a form and send money. Often there’s no real job. Phony offers snag thousands, regulators and employment pros warn. “These scams are everywhere. Job scams are …
Another 3.2 million Americans applied for unemployment benefits last week as the coronavirus crisis sidelined 33 million workers in less than two months, the feds said Thursday. That suggests one in five US workers tried to join the nation’s unemployment rolls in the last seven weeks as the pandemic delivered an unprecedented gut punch to …
