US jobless claims at nearly 10-million in two weeks

Washington — The number of Americans applying for unemployment benefits surged for a second week and reached about 10-million over the past two weeks, highlighting the devastating economic effect of the coronavirus as shutdowns widened across the country.

US stocks fluctuated at the open following the report, which was even worse than the most dire estimate in Bloomberg’s survey of economists. The weekly claims data, usually the first to show a hit amid a downturn, highlight the extent to which US businesses and workers are reeling from the global health crisis. The report shows that the virus is having a wider impact beyond just hotels and restaurants, with states reporting impacts in health and social assistance, factories, retail and construction.

Continuing claims, which are reported with a one-week lag, jumped by 1.25-million to 3.03-million in the week ended March 21 — the highest since 2013. That pushed the insured unemployment rate up to 2.1% from 1.2%.

South Africa Latest News, South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

The top 10 most bizarre car namesCorolla, Polo? Boring. Here are some really interesting car names
Source: BDliveSA - 🏆 12. / 63 Read more »

You can Support 10 000+ to help families survive lockdownThe Support 10 000+ initiative is intended to provide food and hygiene parcels for waste pickers, car guards, traffic light waste collectors and homeless people. People who have stolen millions & billions of taxpayer's money shud take a look at this. How do u sleep at night?
Source: TheCitizen_News - 🏆 6. / 75 Read more »

The top 10 most bizarre car namesCorolla, Polo? Boring. Here are some really interesting car names
Source: BDliveSA - 🏆 12. / 63 Read more »

Barbara Creecy gives go-ahead for mining on 10 Western Cape beachesEnvironment minister Barbara Creecy has dismissed most of the appeals against last year’s approval of vastly expanded beach mining operations on the West Coast, north of the Olifants River. ANC selling our country to foreigners, one mine at a time. Hayibo Sad, the destruction of our environment continues. If your reason is employment, teach people to farm and sell their produce, if in the end there are to many farmers and product, export it to other countries where people are hungry
Source: TimesLIVE - 🏆 28. / 59 Read more »

In SA and US, the motor industry is playing its part in coronavirus crisisFactories start making medical equipment while customers get payment holidays
Source: BDliveSA - 🏆 12. / 63 Read more »

In SA and US, the motor industry is playing its part in coronavirus crisisFactories start making medical equipment while customers get payment holidays
Source: BDliveSA - 🏆 12. / 63 Read more »