The figures collectively constitute the largest and fastest string of job losses in records dating to 1948. They paint a bleak picture of a job market that is quickly unraveling as businesses have shut down across the country. All told, in the past three weeks, 16.8 million Americans have filed for unemployment aid. The surge of jobless claims has overwhelmed state unemployment offices around the country. The unemployment rate could hit 15 percent when the April employment report is released in early May.-AP

Source: The Standard April 09, 2020 13:52 UTC