The coronavirus and the forced closure of business throughout the U.S. have nearly wiped out the totality of job gains since 2009.
The Labor Department reported on Thursday that the number of Americans applying for state unemployment benefits totaled 5.245 million last week.
That number is just below the 22.442 million jobs added to payrolls since November 2009, when the U.S. economy first began to add jobs back after the recession. The Labor Department reported on Thursday that the number of Americans applying for state unemployment benefitsCombined with the government's prior three jobless claims reports, the number of Americans who've filed for unemployment over the previous four weeks is 22.025 million. That number is just below the 22.442 million jobs added to nonfarm payrolls since November 2009, when the U.S. economy first began to add jobs back to the economy after the recession.
The rapid nature of the job losses will be unprecedented, wiping out more than a decade's worth of job gains in five weeks. We'll find out for sure next Thursday when the national claims for this week are reported.
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