Article

2020-04-10 Economy

More than 6 million file for jobless benefits as coronavirus layoffs wrack economy

[The Hill] Roughly 6.6 million Americans filed new applications for unemployment benefits in the first week of April as the coronavirus pandemic devastates the U.S. economy and forces millions out of work, according to data released Thursday by the Labor Department.

The 6,606,000 initial claims for unemployment insurance filed between April 1 and 7 dropped slightly from revised, record-high 6,867,000 new applicants during the previous week, extending an unprecedented surge in layoffs.

More than 10 million Americans applied for unemployment benefits in the final two weeks of March as businesses were forced to shutter to slow the spread of COVID-19, the disease caused by the novel coronavirus. As of Thursday morning, there are more than 432,000 confirmed COVID-19 cases in the U.S., claiming more than 14,000 lives, according to a Johns Hopkins University tracker.

The shutdowns of restaurants, bars, storefronts and almost all social gathering places around the U.S. has plunged the country into a deep retraction following more than a decade of steady employment and economic growth.

Posted by Besoeker 2020-04-10 01:43|| || Front Page|| [11133 views ] Top

#1 A signature event identifying 'lifestyle' as a global engine of commerce.

Posted by Skidmark 2020-04-10 10:03|| 2020-04-10 10:03|| Front Page Top

#2 So far, we've laid off a bit more than 1,000 folks for every death from the "Deadly Coronavirus".

Can someone do the math?

Posted by Bobby 2020-04-10 11:39|| 2020-04-10 11:39|| Front Page Top

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