NEW YORK (AP) — The grim economic toll on Europe and the United States came into fuller view with unemployment figures showing just how devastating the impact has been from coronavirus lockdown measures. The number of Americans filing for unemployment benefits soared past 30 million, worsening a crisis unmatched since the 1930s and heightening pressure on political leaders to lift restrictions that are hamstringing the economy. The European economy shrank a record 3.8% in the first quarter as hotels, restaurants, construction sites and manufacturing were frozen by coronavirus shutdowns. It was the biggest drop in the eurozone since statistics began in 1995. France’s economy also shrank an eye-popping 5.8%, the biggest quarterly drop since 1949.
