1. Articles from orangecountytribune.com

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    1. Economy drops at a 32.9% rate

      Economy drops at a 32.9% rate

      The U.S. economy plunged by an historic 32.9 percent annual rate for the second quarter of 2020, according to the Bureau of Economic Analysis in a report released Thursday.

      That decline is the worst since the Commerce Department started measuring the gross domestic product in 1947. The effects of the coronavirus are being blamed for the downturn. “We expect it will take years for that damage to be fully recovered,” said economist Andrew Hunter.

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    2. Jobless rate drops to 11.1 %

      Jobless rate drops to 11.1 %

      When is more both bad and good at the same time?

      On the Thursdays when the U.S. Department of Labor announces the latest numbers of new applications for unemployment benefits.

      An estimated 1.4 million Americans filed for new help, bringing the total to around 19.3 million people collecting jobless pay. The good news is that the claims were fewer by 55,000 compared to the last round, according to United Press International.

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      Mentions: Local Business
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