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Covid hit US jobs harder than 2008 crisis

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MUMBAI : Unemployment in the US has risen to historic highs in recent months due to covid. Businesses are struggling to stay afloat because of social distancing rules, and livelihoods have been lost, much like the 2008 financial crisis.

A study finds that the current crisis has hit the US economy harder than the 2008 crisis.In the working paper, Ippei Shibata of the International Monetary Fund uses US employment data to estimate the impact on jobs in various industries in 2008 and 2020.

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