deepclips.com® We dig deep so you don't have to!™

  • Jobless claims soar past 3 million to record high

    Jobless claims soar past 3 million to record high

    Americans displaced by the coronavirus crisis filed unemployment claims in record numbers last week, with the Labor Department reporting Thursday a surge to 3.28 million. The number shatters the Great Recession peak of 665,000 in March 2009 and the all-time mark of 695,000 in October 1982.

    H/T: CNBC

    “This is a unique situation. People need to understand, this is not a typical downturn,” Federal Reserve Chairman Jerome Powell said earlier Thursday on NBC’s TODAY.

    “At a certain point, we will get the spread of the virus under control. At that time, confidence will return, businesses will open again, people will come back to work,” he added. “So you may well see a significant rise in unemployment, a significant decline in economic activity. But there can also be a good rebound on the other side of that.”

Search

Latest Clips

More Homefront

© 2019 DeepClips.com ALL RIGHTS RESERVED — Contact