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Record economic plunge, bleak jobs numbers reveal virus toll

 

Last updated 7/30/2020 at 1:29pm



MARTIN CRUTSINGER and PAUL WISEMAN

AP Economics Writers

WASHINGTON (AP) — The coronavirus pandemic sent the U.S. economy plunging by a record-shattering 32.9% annual rate last quarter and is still inflicting damage across the country, squeezing already struggling businesses and forcing a wave of layoffs that shows no sign of abating.

The economy's collapse in the April-June quarter, stunning in its speed and depth, came as a resurgence of the viral outbreak has pushed businesses to close for a second time in many areas. The government's estimate of the second-quarter fall in the gross dom...



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