US unemployment claims for the week have soared to 885,000, significantly higher than economists’ predictions. The figure is just one of several dire statistics outlining a painful future for the lockdown-ravaged economy.
Some 23,000 more Americans applied for unemployment benefits this week than last, according to ominous statistics released by the US Department of Labor on Thursday. The figure represents a 14-week high in unemployment filings, flying in the face of the slight recovery predicted by economists.
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