Coronavirus

Virus takes a wrecking ball to US economy

BY Joseph Rachman   /  26 March 2020

Coronavirus has hit the US economy like a wrecking ball. There were 3.28 million new claims for unemployment benefits last week as quarantine closed businesses across the nation. The spike in new claims is the highest on record, more than quadrupling the previous peak of 695,000 in 1982. Even these numbers do not show the full picture excluding the self-employed and gig workers. 


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