A closed shopping mall is seen in Lima, Ohio on March 24, 2020 amidst the coronavirus pandemic. (Photo by Megan JELINGER/Anadolu Agency via Getty Images)
By Christopher Rugaber
A record-long streak of U.S. job growth ended suddenly in March after nearly a decade as employers cut 701,000 jobs because of the viral outbreak that's all but shut down the U.S. economy. The unemployment rate jumped to 4.4% from a 50-year low of 3.5%.
Last month's actual job loss was likely even larger because the government surveyed employers before the heaviest layoffs hit in the past two week. Nearly 10 million Americans applied for unemployment benefits in the last two weeks of March, far exceeding the figure for any corresponding period on record.
Virus-induced shutdowns have forced widespread layoffs throughout the economy, from hotels, restaurants and movie theaters to auto factories, department stores and administrative offices.
One sign of how painfully deep the job losses will likely prove to be: During its nearly decade-long hiring streak, the U.S. economy added 22.8 million jobs. Economists expect the April jobs report being released in early May to show that all those jobs will have been lost.
Eric Trump joins us to discuss American Bitcoin’s mission, market strategy, and why he believes the U.S. must lead the next era of digital currency innovation.
Unreal Snacks CEO Kevin McCarthy shares how dye-free candy is leading the sweets revolution—just in time for what could be a record-breaking Halloween 2025.
In a daring daylight robbery on Sunday, thieves used a basket lift to scale the Louvre’s facade, smash display cases, and steal eight priceless jewels.
The Trump administration has agreed to resume processing student debt cancellations under two key income-driven repayment plans it had previously limited.
Millions of protesters flooded cities nationwide on Saturday for “No Kings” demonstrations denouncing what they call President Donald Trump’s authoritarian turn
Cynthia Chen, CEO of Kikoff, shares how their membership app helps users build credit with zero fees, no interest, and smart tools that make every point count.
