More than 3 million Americans have applied for unemployment benefits due to the wave of layoffs and business closure due to the Covid-19 epidemic.
Data released by the US Department of Labor today (March 26) shows that weekly claims for unemployment insurance rose to 3,283,000 between March 15 and 22, compared with just 281,000. Applications for unemployment benefits are filed during the week of March 8-14.
The staggering increase in the number of people applying for unemployment benefits came when businesses across the United States were forced to close, in an effort to slow down the spread of the Covid-19 pandemic.
Restaurants, bars, retail stores, entertainment venues and non-essential businesses across the country have been closed for at least a few weeks, leaving millions of Americans working in these industries. unemployment.
The Covid-19 pandemic paralyzed the US economy, which had the lowest unemployment rate in 50 years and the stock market hit a record high just eight weeks ago. Economists are concerned that the unemployment rate may rise to the end of the Great Depression and warn that the economic recession could go beyond the 2007-2008 period.
According to statistics from Johns Hopkins University, as of March 26 (US time), more than 69,000 cases of Covid-19 were confirmed in the United States and killed at least 1,030 people.