In just a week, novel coronavirus has doubled the unemployment count in the US, as about 6.65 million US workers have applied for unemployment benefits in the last week.
The medical emergency of COVID – 19 have taken jobs of millions in the United States, and as rapidly as this pandemic is spreading across the nation, so is increasing the figure of unemployed US workers. According to a recent report of Labor Department, the unemployment count in the US has mounted from 3.3 million to 6.65 million in just one week, making the total claim of 9.95 million in two weeks, way higher than the maximum forecasts of economists.
These day-by-day increasing figures are the mirrors of destructions that the pandemic is causing to the US economy. As per reports, the country had never recorded that many first-time unemployment applications earlier. Even the last year’s count for the same week was only 2.11 million. Analysts warn about the possibilities of seeing unemployment rate increment in double-digits by April.
According to the report, without exceptions, all the American states have revealed a hike in the first-time jobless claims, the largest of which were witnessed by:
Pennsylvania – an increase of 362,012
Ohio – an increase of 189,263
Massachusetts – an increase of 141,003
Texas – an increase of 139,250
California – an increase of 128,727 A rescue package worth $2.2 trillion was approved by the government last week for supporting the jobless workers of the US with a considerable extension and expansion of benefits. The package would give a federal top-up, amounting $600 per week, to their state benefits for up to 4 months. A provision of providing $349 billion as loans to businesses has also been included in the program. The loan would be absolvable if primarily used in making the payment