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| Coronavirus halts a decade of US jobs growth | |
| (32 minutes later) | |
| A decade of jobs growth in the US came to an abrupt halt in March as employers shed 701,000 jobs amid the coronavirus outbreak. | A decade of jobs growth in the US came to an abrupt halt in March as employers shed 701,000 jobs amid the coronavirus outbreak. |
| The unemployment rate rose to 4.4%, according to new data from the US Department of Labor. | The unemployment rate rose to 4.4%, according to new data from the US Department of Labor. |
| The leisure and hospitality industries accounted for more than half the cuts. | The leisure and hospitality industries accounted for more than half the cuts. |
| The losses - greater than expected - could be even worse since the data was collected early in the month. | The losses - greater than expected - could be even worse since the data was collected early in the month. |
| Since then, cases of coronavirus have jumped to more than 245,000 and a majority of states have put lockdown measures in place, forcing most businesses to close. | Since then, cases of coronavirus have jumped to more than 245,000 and a majority of states have put lockdown measures in place, forcing most businesses to close. |
| State filings show about 10 million people have registered for unemployment benefits in the last two weeks - record figures that far eclipse previous highs. | State filings show about 10 million people have registered for unemployment benefits in the last two weeks - record figures that far eclipse previous highs. |
| Economists expect the unemployment rate to rise into the double digits in coming months. | Economists expect the unemployment rate to rise into the double digits in coming months. |
| The Congressional Budget Office on Thursday predicted an elevated 9% rate could linger to the end of 2021. | The Congressional Budget Office on Thursday predicted an elevated 9% rate could linger to the end of 2021. |
| The jump in the unemployment rate from 3.5% in February to 4.4% in March is the largest over the month increase since 1975. | The jump in the unemployment rate from 3.5% in February to 4.4% in March is the largest over the month increase since 1975. |