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COVID-19: US weekly jobless claims surge to record 3.28 million

Updated : March 27, 2020 06:17 AM IST

Economists say the economy is already in recession. Weekly claims are the most timely labor market indicator.
Economists polled by Reuters had forecast claims would rise to 1 million, though estimates were as high as 4 million.
The Labor Department attributed the surge to COVID-19, the respiratory illness caused by the coronavirus.
COVID-19: US weekly jobless claims surge to record 3.28 million

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