Usa Washington outbreak Usa Washington

US jobless claims hit 3.3 million, quadruple previous record

Reading now: 588
www.clickorlando.com

WASHINGTON – Nearly 3.3 million Americans applied for unemployment benefits last week — more than quadruple the previous record set in 1982 — amid a widespread economic shutdown caused by the coronavirus.

The surge in weekly applications was a stunning reflection of the damage the viral outbreak is inflicting on the economy. Filings for unemployment aid generally reflect the pace of layoffs.

Layoffs are sure to accelerate as the U.S. economy sinks into a recession. Revenue has collapsed at restaurants, hotels, movie theaters, gyms, and airlines.

Auto sales are plummeting, and car makers have close factories. Most such employers face loan payments and other fixed costs, so they're cutting jobs to save money.

Read more on clickorlando.com
The website covid-19.rehab is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.

Related News

DMCA