The Labor Department report released on Thursday shows nearly 10 per cent of the U. The shocking number comes after nearly 10 million people applied for benefits in previous weeks after businesses shut down due to the outbreak. Unemployment dating many states are still working on backlogs of unemployment applications, the number will most likely keep growing.
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In the U. As of Thursday, roughly one in 10 workers have lost their jobs in just the past three weeks — and more than 20 million Americans may lose jobs in April. For comparison, unemployment next went above 10 percent during the Great Recession, which unemployment dating in Last Friday, the Labor Department announced more thanjobs were cut in March during the coronavirus crisis.
Millions of workers have unemployment dating hours slashed, been furloughed, or lost their jobs entirely as many non-essential businesses around the nation have had to close their doors because of the coronavirus. The total number of those unemploymeht work is likely far higher as more than million are under state stay-at-home orders. With the majority of the country enduring business shutdowns, economic activity has slowed to a near-halt.
Iowa’s Unemployment Insurance Trust Fund, Benefit Payments and Claims Data
Janet Yellen, the former Federal Reserve chair, said on Monday that the economy would likely shrink at a 30 percent annual rate in the April-June quarter — a contraction that would be unmatched in records dating back to World War II. Bigger corporations would be expected to pay the bill for the pay hike, he said, while the unemployment dating government would provide funding for smaller firms.
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