The first wave of job losses from the coronavirus crisis has been horrible. The second wave could be nearly as damaging. The Labor Department on Thursday reported that a seasonally adjusted 3.2 million American workers filed new claims for jobless benefits in the week ended last Saturday, compared with 3.8 million initial claims the previous week. It is a good thing that the number of initial claims has been falling each week since hitting a record 6.9 million for the week ended March 28. The wrenching jolt that the labor...

Source: Wall Street Journal May 07, 2020 15:33 UTC