WASHINGTON: The worst stage of coronavirus pandemic became visible in the US when the Donald Trump government reported that employers cut over 7 lakh jobs in the first two weeks of March — close to the May 2009 financial crisis peak of 800,000 job losses.
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Most of the job losses were reported from restaurants and bars, followed by retailers. It was the first decline in payrolls since September 2010, a news channel reported.
The unemployment rate rose to 4.4 per cent – from 3.5 per cent — the first job decline in a decade, the US Bureau of Labor Statistics reported on Friday.
The Labor report, however, doesn’t capture “the nearly 10 million laid-off and furlo
