Report shows staggering U.S. unemployment
A record 6.6 million Americans filed unemployment claims last week. The COVID-19 pandemic continues to slam the U.S. economy as more states enforce stay-at-home orders closing non-essential businesses. Jobless claims between March 21 and March 28 more than doubled from the previous week’s record of 3.3 million, according to the U.S. Department of Labor’s report on Thursday.
How does the future look? Those numbers likely will increase as states work through unprocessed applications. Analysts have projected unemployment will hit between 4 and 5.5 percent due to the coronavirus-induced economic shutdown and widespread layoffs. The economic rescue package President Donald Trump signed last week expanded the pool of workers who are eligible for unemployment benefits to include independent contractors, “gig” workers, and self-employed individuals.
Dig deeper: Read Sophia Lee’s story on how the pandemic is squeezing the restaurant industry.
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