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Record economic plunge, bleak jobs numbers reveal virus toll - Black News Channel

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By Martin Crutsinger and Paul Wiseman AP Economics Writers WASHINGTON (AP) — The U.S. economy plunged by a record-shattering 32.9% annual rate last quarter, and the coronavirus pandemic is still cutting a path of destruction, forcing millions out of work and shuttering businesses. The economy's stunning contraction in the April-June quarter came as the viral outbreak pushed already struggling businesses to close for a second time in many parts of the country, sending unemployment surging to nearly 15%. The government's estimate Thursday of the second-quarter fall in the gross domestic product was the sharpest such drop on records dating to […]

The post Record economic plunge, bleak jobs numbers reveal virus toll appeared first on Black News Channel.

Source: Black News Channel - Black News Channel

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