As the number of people affected by the coronavirus continues to increase, so does the number of American’s that have filed for unemployment since the outbreak.
According to ABC News, on Thursday, the U.S. Department of Labor announced that 3.28 million unemployment claims were filed in the United States between March 15th and March 21st, which has become the largest record to date. The number of people that have filed for unemployment is equivalent to the population of different cities throughout the country.
As a result of the mandatory shutdown, many businesses have had to put a hold on things, and it has been a struggle to keep their employees on board without their businesses running.
Prior to this new record-breaking number, the largest amount of unemployment claims was 695,000, which took place back in 1982. However, it’s important to acknowledge that, the 3.28 million only represents the number of people that have successfully filed, and does not represent the total amount of people that are actually currently unemployed.
According to NPR, Jerome Powell, the Federal Reserve Chairman appeared on the “Today Show” and said, “We may well be in a recession.”
He continued, “This is a unique situation. People are being asked to close their business, to stay home from work, and to not engage in certain economic activity, and so they are pulling back. At a certain point, we will get the virus under control and confidence will return.”
Late Wednesday, the Senate approved a $2 trillion stimulus deal, which would reportedly “expand unemployment benefits, extending them to gig workers and freelancers. It includes more generous benefits and extend eligibility for benefits by 13 weeks.”
Roommates, what are your thoughts?
Source: https://abc7news.com/finance/us-unemployment-claims-reach-record-32m-this-week/6052122/
