The jobless claims report showed that it took only five weeks for the U.S. economy to erase all the job gains in the last 11 years.
The Labor Department reported that the number of Americans applying for state unemployment benefits totaled 4.427 million last week.
That number exceeds the 22.442 million jobs added to payrolls since November 2009, when the U.S. economy began to add jobs back after the recession. The coronavirus and forced business closures throughout the U.S. again buoyed the number of Americans applying for state unemployment benefits, whichCombined with the four prior jobless claims reports, the number of Americans who have filed for unemployment over the previous five weeks is 26.45 million. That number exceeds the 22.442 million jobs added to nonfarm payrolls since November 2009, when the U.S. economy began to add jobs back to the economy after the Great Recession.
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