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U.S. job losses are accelerating, and it's about to get much worse
ritcha 03/20/2020 03:53 AM CST

The U.S. labor market is rapidly deteriorating.Initial weekly claims for unemployment insurance jumped to 281,000 during the week ending March 14. This was up from 211,000 the week prior, and it was much worse than the 220,000 expected by economists.This is the highest reading since January 2018. And it comes as workers begin to lose jobs amid the coronavirus crisis.[See Also: Unemployment insurance: What it is and how to get it]“During the week ending March 14, the increase in initial claims are clearly attributable to impacts from the COVID-19 virus,” the Department of Labor said. “A number of states specifically cited COVID-19 related layoffs, while many states reported increased layoffs in service related industries broadly and in the accommodation and food services industries specifically, as well as in the transportation and warehousing industry, whether COVID-19 was identified directly or not.”All signs suggest this will get much worse. more >>slotxo