One of the first official indications of the terrible toll the coronavirus outbreak is taking on the U.S. economy has been released. Filings for unemployment benefits spiked last week and now sit at a two-year high after the coronavirus pandemic led to employers laying off thousands of workers. The Labor Department reported that claims rose by 70,000 to 281,000 last week, and, with no end in sight for the virus pandemic, things are likely to get worse. Bloomberg News reports that the figures outstripped its estimate, and said the figure could surge into the millions by next week.
TOP 10 RIGHT NOW