4.4 million Americans filed for jobless last week revealing the total number of 26 million people have requested unemployment benefits since the coronavirus outbreak in the United States. According to the department of labor jobs that are gained after the great recession are disappeared in just one month. In 2010 around 22 million jobs for created in United State.
The problem is the economy is still shutdownTorsten Slok, The Chief Economist For Deutsche Bank Securities.
Last week President Trump released guidelines for opening up America again and suggested governors should decide when it is the restriction to control coronavirus pandemic.
Job clinks in the last three weeks for jaw dropping in total many economist worry that crisis continuous there could be a second wave of layoff and applications for unemployment benefits.
Not only employees around 30 million small business in United States and many of them are struggling to afloat.
The ensure unemployment rate compare to those currently receiving benefits to the size of the labour force increases to 11 % which was 2.8 % in the previous week. Totally 23% Labour Department releases its unemployment calculation in last two week according to Paul Ashworth chief us economist. The Great Depression of the United States seen around 24.9 percentage of unemployment in total. The Coronavirus outbreak is not yet completely controlled in the United States but the unemployment rate rose to 23 percentage which main probability increase and will definitely cross the Great Depression unemployment rate.
We are facing an unforeseen enemy and today’s report continues to show that this are challenging times for many Americans who want to get back to work. Because of President Trump’s leadership and the American peoples commitment to control the spread of coronavirus, we are on data driven responsible path to opening up America againWhitehouse spokesman Judd Deere