U.S. stocks fell on Friday as the U.S. lost more than 700,000 jobs in March.
The U.S. Bureau of Labor Statistics released its March job survey, indicating the unemployment rate was 4.4%, a number that economists are calling conservative.
U.S. stocks fell on Friday as the U.S. lost more than 700,000 jobs in March.
Hawaii had the highest number of jobless claim filings on a per capita basis
It brings U.S. unemployment near Great Depression levels, and some economists caution that the there are more claims going unreported.
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Economist Diane Swonk said true picture likely not to emerge until April.
The investment banking giant also predicted a strong recovery in the third quarter.
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U.S. stocks surged on Thursday as traders celebrated the likelihood of the stimulus bill passing
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Powell said the first order of business is to get the spread of COVID-19 under control.
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New U.S. labor market data released on Thursday revealed a massive increase in initial jobless claims for the week ended March 21
U.S. unemployment claims reached the highest level in history last week to more than 3.28 million claims due to the impact of the coronavirus.
Wall Street's first back-to-back rally since February ends Thursday with futures heralding another selloff on account of historic unemployment claims that will exceed one million.
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Some experts are warning of catastrophic damage to the U.S. economy
U.S. stocks dropped on Monday as lawmakers failed to pass virus relief bill