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Millions more Americans file for unemployment benefits

Millions more Americans filed for unemployment benefits last week, more than two months after a shutdown of the country to deal with the coronavirus crisis, pointing to a second wave of layoffs in industries not initially impacted by closures caused by the pandemic.
 
The Labor Department's weekly jobless claims report today showed the number of people on unemployment rolls surging to a record high in early May, suggesting that businesses were not rushing to rehire workers as they reopen.
 
A broad lockdown of the country in mid-March to contain the spread of COVID-19, initially led to layoffs in mostly low-wage consumer-facing businesses such as restaurants and retailers.
 
But economists say weak demand was causing layoffs in other industries like utilities, information, finance and insurance, and education.


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