The American labor market continues to be devastated by the current situation, with a shocking 10 million workers filing jobless claims in the last two weeks alone. With residents of 37 states now ordered to stay home, it’s likely more unemployment filings will follow in the coming weeks. It remains to be seen whether this current blow to the labor market will eclipse the 15 million jobs lost at the peak of the Great Recession in 2007-2009.
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