New record for jobless claims in America

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The number of Americans filing for unemployment benefits last week reached a record high for the second week in a row, exceeding six million.

More authorities have imposed measures to stay at home to curb the Corona virus, which economists say is pushing the economy toward recession.

The US Department of Labor said Thursday that new applications for unemployment benefits rose to 6.65 million in the latest week from an unmodified level of 3.3 million in the previous week.

The numbers exceed the average estimate of 3.50 million in a Reuters survey of economists. The highest estimate in the survey was 5.25 million.

The weekly government report provides the clearest evidence yet that the longest employment boom in American history probably ended in March.

The pandemic has led to an unprecedented rise in the number of Americans seeking government assistance. Subsidy applications have already exceeded those that peaked at 665,000 during the recession between 2007 and 2009, when 8.7 million jobs were lost.

The accelerated layoffs have led many economists to expect the number of lost jobs to reach 20 million by the end of April. That would more than double the jobs lost during the 8.7 million Great Recession.

The unemployment rate could rise to 15 percent this month, higher than the previous record of 10.8 percent set during the deep recession of 1982.

Many employers are slashing their payroll in an attempt to continue because their revenues have collapsed, especially in restaurants, hotels, gyms and cinemas.

More than two-thirds of the population of the United States is subject to home stay orders imposed by most US states. This has added to the pressure on companies, most of which face rent, loans and other bills that must be paid.





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