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Jobless Claims, Factory Gauge Show Virus Filtering to U.S. Data

  • Filings for unemployment benefits increase by most since 2012
  • Philadelphia Fed manufacturing index falls by most on record
American Cities Go Eerily Quiet In The Age Of 'Shelter in Place'
Photographer: Chona Kasinger/Bloomberg

The deep impact of the coronavirus pandemic is beginning to manifest in more U.S. economic data.

Applications for unemployment benefits jumped by 70,000 last week, the largest increase since the aftermath of superstorm Sandy in November 2012, according to the Labor Department. A separate report Thursday from the Federal Reserve Bank of Philadelphia showed a gauge of manufacturing in the region suffered its largest-ever slump in March.