US Jobless Claims Hit 3.3 million, Quadruple Previous Record

As job losses mount, some economists say the nation's unemployment rate could approach 13% by May. By comparison, the highest jobless rate during the Great Recession, which ended in 2009, was 10%.

  • Published 26 March 2020

[template id="240357"] WASHINGTON (AP) — Nearly 3.3 million Americans applied for unemployment benefits last week — more than quadruple the previous record set in 1982 — amid a widespread economic shutdown caused by the coronavirus. The surge in weekly applications was a stunning reflection of the damage the viral outbreak is doing to the economy. Filings for unemployment aid generally reflect the pace of layoffs. The pace of layoffs is sure to accelerate as the… Read at AP News