How to understand the scale of American job decimation
Sentence from a nightmare: 6.6 million Americans filed for unemployment last week, a decline from the previous week's 6.9 million.
The big picture: Over the past three weeks, 1 in 10 working-age adults filed for unemployment, Axios' Courtenay Brown notes.
Why it matters: We're not even close to understanding the long-term ramifications of America rocketing from sub-4% unemployment to what could be Depression levels in about a month.
This is just the first wave, since we don't know how many businesses will fail while waiting on reopening or bailouts.