U.S. jobless claims could top record 1.5 million next week – economists
Thursday, March 19, 2020 | Tag Cloud Tags: coronavirus, EU, News, PLO, virus, War, Worthy News | Learn about out FREE SYNDICATION
(Worthy News) – A wave of layoffs at restaurants, bars and hotels, as efforts to contain the coronavirus pandemic bring much of everyday American life to a halt, could drive new applications for U.S. unemployment benefits to a record 1.5 million or more next week, economists warned on Thursday.
New jobless claims already hit a two-and-a-half year high of 281,000 last week, jumping by 70,000 from the week before, the Labor Department said on Thursday. It was the biggest weekly increase since 2012 and officials laid the blame on the coronavirus, which a Reuters tally shows has infected nearly 9,500 across the country, killing at least 115.
And the worst is yet to come. [ Source: Reuters (Read More…) ]
Fair Use Notice:This site contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available in our efforts to advance understanding of environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission from the copyright owner.