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The actual number of Americans out of work or nearly so is almost certainly higher.
This is the second largest number on record.
About 10 million Americans have filed for unemployment over the past two weeks.
About 282,000 Americans filed claims the week before.
The statistics the government uses to measure unemployment are likely underreporting the results of the pandemic.
“If we’re believing some of the forecasts coming out from a lot of the banks, we might see numbers in the millions,” said Tara Sinclair of George Washington University.
The trend is in the right direction, but the statistic won't dominate in the markets.
