COVID-19 danger is continuing to drive job losses in the U.S.
The number of Americans applying for unemployment benefits fell last week to 860,000, a historically high figure that reflects economic damage from the coronavirus outbreak. Before the pandemic hit the economy, the number signing up for jobless aid had never exceeded 700,000 in a week, even in the depths of the 2007-2009 Great Recession.
The Labor Department also said Thursday that 12.6 million are collecting traditional unemployment benefits, compared with 1.7 million a year ago.
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