By Sarah Chaney
WASHINGTON--A record 3.28 million workers applied for unemployment benefits last week as the new coronavirus hit the economy, ending a decadelong job expansion.
Initial jobless claims increased by three million to 3.28 million in the week ended March 21. The weekly level well exceeded the previous record high of 695,000 set in October 1982.
The record-high level of claims came during a week when many U.S. businesses announced layoffs and several state and local authorities ordered nonessential businesses to close in response to the coronavirus pandemic.
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(END) Dow Jones Newswires
March 26, 2020 08:51 ET (12:51 GMT)
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