More grim job losses as U.S. hits record high on new COVID cases

Reuters/Lisa Shumaker/7-9-2020

“As the number of new coronavirus cases in the United States rose to a single-day record, fresh government data on Thursday showed another 1.3 million Americans filed for jobless benefits, highlighting the pandemic’s devastating impact on the economy.”

USAGOLD note:  Some signs of moderation in the overall numbers but a cloud of uncertainty still hangs over the employment picture.

line chart showing spike in unemployment rate through June 2020

Sources:  U.S. Bureau of Labor Statistics, St. Louis Federal Reserve [FRED]

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