More than 4.4 million Americans filed for unemployment this week; bringing the total job loss to 26 million since March as the country struggles to defeat the deadly Coronavirus pandemic.
“Jobless claim filings continued at a historically unprecedented pace last week with 4.4 million new signups for unemployment insurance, bringing the total of the past five weeks to 26.4 million, the Labor Department said Thursday,” reports CNBC.
“The number represented a decline of 810,000 from the previous week, but the five-week total has now surpassed all of the job gains since the Great Recession,” adds the website.
“Another horrendous number, but at least the trajectory is clearly downwards,” said Ian Shepherdson, chief economist at Pantheon Macroeconomics.
Read the full report at CNBC.