US Economy Sheds 7 Lakh Jobs In March Amid Coronavirus Crisis

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The US financial system shed 701,000 jobs in March amid the hurt inflicted by the coronavirus shutdowns, whereas the unemployment worth surged to 4.4 p.c, the Labor Division reported Friday.

That was the worst job loss since March 2009 via the depths of the worldwide financial catastrophe, and the most important leap throughout the jobless worth in extra than 45 years, the report acknowledged.

Nonetheless, the Labor Division acknowledged it “cannot precisely quantify the outcomes of the pandemic on the job market in March.”

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