Another 4.4 million Americans filed for unemployment last week. That brings the total number of jobless claims to more than 26 million people in just five weeks.
As more and more workers lose jobs, many states say they are seeing the trust funds used to pay unemployment benefits begin to run low.As more and more workers lose jobs, many states say they are seeing the trust funds used to pay unemployment benefits begin to run low.The number of people forced out of work during the coronavirus lockdown continues to soar to historic highs. Another 4.
The wave of job cuts were concentrated at first in the travel and energy sectors, but have increasingly spread to white-collar jobs such as lawyers, accountants and consultants."The lack of precedent means we have no idea how far this will go, but our initial hope that claims would drop below one million per week by the end of May is now touch-and-go," says Ian Shepherdson, chief economist at Pantheon Macroeconomics.
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