Economy

Follow coverage of the U.S. and global economy, jobs and unemployment; banking; interest rates and other decisions by the Federal Reserve (Fed) and Chair; and economic indicators such as the gross domestic product (GDP), factory orders and durable goods. Other topics include the federal budget deficit and national debt, and local economic columnist Jon Talton.

‘Hundreds of millions of dollars’ lost in Washington to unemployment fraud amid coronavirus joblessness surge

In this May 6, 2020 photo, a person rides past a boarded up and closed Old Navy clothing store in downtown Seattle. The U.S. unemployment rate hit 14.7% in April, the highest rate since the Great Depression, as 20.5 million jobs vanished in the worst monthly loss on record. The figures are stark evidence of the damage the coronavirus has done to a now-shattered economy.  (AP Photo/Ted S. Warren) WATW205 WATW205

The state's disclosure could mean even longer delays for thousands of jobless workers still waiting for legitimate benefits, and it also helps explain the unusual surge in the number of new unemployment claims.

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