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Friday, March 29, 2024

COVID-19: America Faces Unemployment Crisis With 26.5 Million Out Of Work

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More than 4.43 million Americans filed for unemployment benefits this week, according to new federal data showing the coronavirus crisis has put more than 26.5 million Americans out of work.

That number which is larger than the entire population of Florida, means more jobs have been lost in the last 30 days than were added to the economy since the end of the last downturn a decade ago or 21.5 million.

The staggering unemployment numbers indicate that around 20 percent of the American workforce has been sidelined as efforts to stem the pandemic have forced businesses to close their doors and lay off workers across the country.

This comes after the total number of Americans receiving unemployment benefits rose to 16 million in the week of April 11, 2020.

Hattip to TheGuardian

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