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For the first time in nearly a decade, the economy suffered a net loss of jobs as the coronavirus began to take hold in the country. The unemployment rate shot up to 4.4%.
The staggering number of people claiming jobless benefits set a new record for the second week in a row. Much of the country has been ordered to stay at home, bringing the economy to a lurching halt.
A record number of Americans filed for unemployment benefits for the first time last week as the coronavirus hammered the economy. It's nearly five times the levels seen during the Great Recession.
The Labor Department says U.S. employers added 130,000 jobs in August, fewer than private analysts had expected. The unemployment rate was unchanged at 3.7%.