About 16% of workers sought unemployment benefits in US in past month
Economists are forecasting that as many as 25-million jobs were lost in April after the economy purged 701,000 positions in March
Washington — A record 26-million Americans have sought unemployment benefits over the past five weeks, confirming that all the jobs created during the longest employment boom in US history were wiped out in about a month, as the novel coronavirus savages the US economy.
The labour department said on Thursday that 4.427-million more people applied for unemployment benefits for the first time last week, down from a revised 5.237-million the week before. The median expectation among economists in a Reuters poll was for claims to have fallen to 4.2-million last week, although estimates had ranged as high as 5.5-million...