The number of Americans filing new claims
for unemployment benefits surged last week
by 70,000 to the highest level in more than
two years, indicating that the effect of the
coronavirus was starting to be felt in rising
layoffs in the job market.
The Labor Department reported Thursday
that applications for benefits, a good proxy for
layoffs, rose by 70,000 to a seasonally adjusted
281,000 benefit applications last week. That
was the highest weekly total since Sept. 2, 2017,
following Hurricane Harvey.
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