Bloomberg
The number of Americans applying for unemployment benefits more than doubled to a second straight record as the coronavirus widened its reach and closed more businesses. A total of 6.65 million people filed jobless claims in the week ended March 28, according to Labor Department figures released Thursday, as many stores and restaurants were forced to close across the nation to mitigate the outbreak. The prior week’s level was also revised up slightly to 3.31 million. The figure topped all analyst estimates and compared with a median projection of 3.76 million. The speed and scale of the job losses is without precedent. Until the coronavirus outbreak caused widespread workplace shutdowns and layoffs, the worst week for initial unemployment filings was 695,000 in 1982. The economic damage from the pandemic was initially concentrated in tourism, hospitality and related industries. But now the pain is spreading much more widely.