Record 6.6 Million Americans File For Unemployment

The number of Americans seeking unemployment benefits in the wake of the coronavirus outbreak has doubled in just a week. According to Labor Department figures on Thursday, a record 6.6 million individuals filed for assistance, up from the revised 3.307 million that had been the previous record.
The jump is likely to cause the unemployment rate, currently at a nearly 50-year low of 3.5%, to soar when released on Friday, with some estimates reaching as high as 15%.
Making matters worse, this may not even be the complete picture, as many states’ employment websites are overwhelmed and can’t process all the claims.

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