In further signs of the crisis facing the world's largest economy amid the coronavirus pandemic, new data Thursday showed US a record plunge in US exports as layoffs exceeded 42 million.
In further signs of the crisis facing the world's largest economy amid the coronavirus pandemic, new data Thursday showed US a record plunge in US exports as layoffs exceeded 42 million.
"This and other indicators suggest not that the job market is improving but that it's getting bad less quickly," Jared Bernstein, senior fellow at the Center on Budget and Policy Priorities think tank, said on Twitter. After falling last week, the insured unemployment rate ticked up half a point to 14.8 percent -- a huge number of Americans not working, but that only reflects those with unemployment benefits.
However, Labor Secretary Eugene Scalia said he remains confident the unemployment rate will fall below 10 percent by year end.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
U.S. faces unemployment crisis amid record trade dropData show more than 42 million workers in the United States have lost their jobs since mid-March 2020. The country's trade deficit also jumps to $49.5 billion.
Read more »
![[OPINION] HK today, PH tomorrow: They are coming for us](https://i.headtopics.com/images/2020/6/4/rapplerdotcom/opinion-hk-today-ph-tomorrow-they-are-coming-for-us-1268570577079537664.webp?w=640)
[OPINION] HK today, PH tomorrow: They are coming for us'It behooves the Filipino people to stand for Hong Kong and to fight for our own freedom.... We must fight to preserve...the priceless opportunity to live as free men and women in our own land, and not slaves to some foreign power.' Opinion
Read more »
![[OPINION] Terrorizing us, but not the terrorists](https://i.headtopics.com/images/2020/6/4/rapplerdotcom/opinion-terrorizing-us-but-not-the-terrorists-1268365287986003974.webp?w=640)
[OPINION] Terrorizing us, but not the terrorists'Democracy demands dissent. A government that suppresses legitimate dissenters and lumps them under the umbrella term “terrorists” is a government that fails in its biggest duty: to listen to – and serve – its constituents.'
Read more »
U.S. urges China to comply with Hague ruling, rejects 'excessive' sea claimsThe United States’ note verbale follows the Philippines,' Vietnam's, and Indonesia's recent objections to China’s claims in the South China Sea.
Read more »
China says U.S. trade sanctions on Hong Kong violate WTO rules'If the United States disregards the fundamental principles of international relations and adopts unilateral measures according to its domestic laws, it will violate WTO rules,' says the Chinese commerce ministry.
Read more »
Super Junior K.R.Y. unveils teasers for upcoming music video 'When We Were Us'Are your tissues ready for Super Junior K.R.Y.'s album and music video dropping on June 8th?
Read more »