The Department of Labor reported Thursday that 3.28 million Americans filed initial jobless claims last week amid the COVID-19 coronavirus crisis, the highest number ever recorded. The Thursday figure is more than four times higher than the previous record of 695,000 in October 1982 and a massive jump from the 282,000 Americans who filed for their first week of unemployment benefits during the week ending on March 14. In an interview Thursday morning shortly before the release of the Labor Department's report, Federal Reserve Chair Jerome Powell said the United States "may well be in a recession" already but argued that "there's nothing fundamentally wrong with our economy" and that there can be a "good rebound" when the COVID-19 coronavirus' spread is under control.

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