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U.S. Economy Stumbles as the Coronavirus Spreads Widely

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Layoffs are rising again and Americans’ incomes are falling, the latest signs that the one-two punch of a resurgent pandemic and waning government aid are undermining the U.S. economic recovery.Applications for state jobless benefits rose for the second straight week last week, the Labor Department said Wednesday. Unemployment filings are up by more than 100,000 from the first week of November, when they hit their lowest level since last spring, the start of the pandemic.Forecasters have been warning for weeks that the increase in coronavirus cases could have dire economic consequences as consumers pull back on spending and …

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