Rolling coverage of the latest economic and financial newsLatest: Another 2.4m Americans lost jobs last weekUK economy locked in ‘unprecedented downturn’Markets alarmed as Trump attacks ChinaCoronavirus – latest updatesSee all our coronavirus coverage 2.57pm BST The initial claims figures, although bad, don’t capture the full extent of the jobs lost in the crisis.Another 2.2 million new claims were filed through the federal government’s temporary Pandemic Unemployment Assistance program. It’s designed to help gig economy workers, independent contractors and other self-employed workers, who might not be able file traditional jobless claims. 2.44pm BST Wall Street is unperturbed by today’s US jobless numbers.The Dow has gained 57 points or 0.2% in early trading to 24,633 points, despite traders learning that another 2.4m Americans are now on the dole. The S&P total return index down just 7% year to date as financial capitalism shrugs off the suspension of capitalism Related: AstraZeneca could supply potential coronavirus vaccine from September Continue reading…
Via: UK economy in 'unprecedented downturn' as activity keeps falling – business live
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