US Faces Unemployment Crisis Amid Record Trade Drop
June 4, 2020
5:04 pm
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.
The two key reports on economic health indicate that even as Wall Street regains its strength and some industries show signs of recovery as virus lockdowns ease, the United States is not out of the woods yet.
The Labor Department said 1.87 million workers filed new jobless claims last week, 249,000 less than the week prior but still a grievous figure nearly three times higher than the weekly record …
