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Coronavirus leads to biggest spike in jobless claims in U.S. history

Coronavirus leads to biggest spike in jobless claims in U.S. history

Updated 30 minutes ago – Economy & Company

A record 3.3 million people declared unemployment insurance recently, a sign that the coronavirus is triggering joblessness like never ever in the past.

Why it matters: It’s the biggest spike in unemployment filings in U.S. history, as the pandemic causes businesses across the nation to shut down.

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Source: FRED; Chart: Axios Visuals

The bottom line: The coronavirus– and efforts made to contain the outbreak– has most likely ended the U.S.’s record-long streak of task gains.