Updated Mar 26, 2020 - Economy & Business

Biggest spike in jobless claims in U.S. history

A record 3.3 million people filed for unemployment insurance last week, a sign that the coronavirus is causing joblessness like never before.

Why it matters: It’s the biggest spike in unemployment filings in U.S. history, as the pandemic causes businesses across the country to shut down.

Source: FRED; Chart: Axios Visuals
Source: FRED; Chart: Axios Visuals

The bottom line: The coronavirus — and efforts made to contain the outbreak — has likely ended the U.S.'s record-long streak of job gains.

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