Millions of new unemployment claims expected as layoffs continue to rise

The coronavirus might seemingly be reaching its peak in the US. There have been many job losses that took place in the country. However, it does not seem like the job losses will stop all of a sudden. Economists believe that the Labor Department might report that there were around 4.5 million Americans filing for applications for unemployment insurance. 

This is lower than the 5.2 million the previous week and much lower than late March when there were around 6.86 million applications. Analysts say: “Claims have declined over the past two weeks but remain at an extraordinarily high level.”

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