Economy in reverse: Initial jobless claims rise for second week, GDP falls by record 33 percent

More than 1.43 million people filed for unemployment benefits for the first time last week, according to weekly data released Thursday by the Department of Labor. It’s the second-straight week that the number has risen, and the 19th week in a row that the U.S. has seen more than a million claims. For context, the prior peak was in 1982, when the weekly figure hit 695,000.

The extent of the economic damage wrought by the coronavirus pandemic was further revealed on Thursday, with gross domestic product for the second quarter sinking by a record 32.9 percent annualized, according to data from the Bureau of Economic Analysis.

Economy in reverse: Initial jobless claims rise for second week, GDP falls by record 33 percent

Super MAGA territory.. AmeriKKKa is getting better and better. Trump is just so fantastically good as a business leader, we are all making more money than ever before and everyone who wants a job has one.. (extreme sarcasm)