Jul 30

Record economic plunge, bleak jobs numbers reveal virus toll

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

Since the recession ended in 2009, the U.S. economy has experienced mainly positive growth. But new data from the Commerce Department on Wednesday reveals that in the first quarter of 2014, the economy contracted -- suffering its sharpest pullback in…