WASHINGTON, 03 April. - (ANA) - Another 6.6 million joined the U.S. unemployment ranks, bringing the two-week total to a staggering 10 million as the pandemic upends the economy.

 

The new claims for unemployment benefits set a grim record for the second straight week. The speed and scale of the job losses is without precedent. Until last month, the worst week for unemployment filings was 695,000 in 1982.

 

A month ago, most forecasters still thought the United States could avoid a recession. Today, with the pandemic shuttering businesses and forcing vast layoffs, many economists are expecting a decline in gross domestic product that rivals the worst periods of the Great Depression.  - (ANA) -

 

AB/ANA/03 April 2020 - - -