U.S. economy shrank at record-breaking 33% last quarter, as 1.4M sought unemployment aid last week / Boing Boing

U.S. economy shrank at record-breaking 33% last quarter, as 1.4M sought unemployment aid last week / Boing Boing

The government said Thursday the U.S. economy shrank at a shocking 33% annual rate in the April-June quarter. This is by far America's worst quarterly plunge ever, caused by the government's reckless response to the viral outbreak, which threw tens of millions out of work and sent unemployment surging to 14.7%.