Article by NY FAMA
According to many economists, and analysts from Economic Policy Institute, NYT, CBS News and Fox News:
The Labor Department’s latest report says that roughly 3.8 million Americans filed for unemployment last week.
The 3.8 Millions of last week, brings the six-week total to 30 million U.S. workers filing jobless claims. The last week figure, are comparatively lower than the last five weeks,
The devastating total reflects the COVID 19 pandemic’s effect on the economy, despite trillions of dollars in stimulus spending.
A study by the Economic Policy Institute found that the job losses may be far worse than the Labor Department figures indicate, and that roughly 50% more people than counted as filing claims in a recent four-week period may have qualified for benefits but were stymied in applying or didn’t even try because they found the process too formidable.
Cover Photo by CBS News
Sources by: Economic Policy Institute – NYT – CBS News – Fox News –
By: Alex Ammohostianos
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[…] 3.8 million U.S. workers filed unemployment claims last week – 30 million in a period of six-w… […]
[…] After 3.8 million U.S. workers filed unemployment claims last week, 30 million more Americans in a period of six-week applied for weekly unemployment benefits, consumer spending collapsed, and even as it became clear that the crisis of COVID 19 is pushing the U.S into a dire economic downturn, the S&P 500 had its BEST MONTH since January 1987 gaining nearly 13% this month. […]