Only last week (25 April) applications for unemployment benefits filed 3.84 million people, according to CBS News.
According to the latest data, already 3,84 million people in the U.S. have filed to receive unemployment benefits for last week. This is an absolute record on speed of filing since the great depression, but not the limit. The total number of people who have lost their jobs because of the coronavirus, has exceeded 30 million
“When compared with the previous week, the bids came less. However, this number exceeds the previous record five times! Objectively it’s a terrible statistics,” says Nick bunker, the head of the company hiring Indeed Hiring Lab.
The statistics of growth of number of applications for benefits from people who previously were not on the stock exchange in the country. Source: US Department of labor
In the course of a week (until April 23) in Florida there was an unprecedented leap of filing applications for unemployment benefits: 326 thousand people have registered to receive payments.
“The number of applications for unemployment benefits continued to decline, but remains at a level that was unthinkable before the pandemic coronavirus! Last week this number has surpassed all expectations,” said Gregory Daco, chief US economist at Oxford Economics.
The real number of people who remained without a job — much higher than official statistics.
On topic: because of the crisis the number of Americans wanting to get free food has doubled
According to the data obtained in the result of the survey by the Institute of economic policy, for every 10 people who have applied — there are 4-5 of those who have not yet figured out how to do it or still in shock from the situation and ready to act.
Almost all industries are seeing the closure of businesses that do not have strategic importance for the country. Workers went on vacation, which is not known when it will end. Although in some States the governors have allowed companies to get out of quarantine, but resume full operation will take months, if not years.
From the beginning of 2020 until March, the growth of the economy decreased by almost 5%. This is a record GDP drop since October 2009, the global financial crisis. And experts believe that the current situation is just the tip of the iceberg. It is expected that in the second quarter of 2020, GDP will decline by 40% yoy and it will severely affect business.
Economists ‘ estimates in April, the unemployment rate in the U.S. of about 20%.
As previously wrote ForumDaily:
How to apply for unemployment benefits: the answers to the main questions
How to get health insurance if you lost your job due to coronavirus
More than 10 variants: in the United States to receive financial assistance during a pandemic COVID-19
Catastrophic unemployment and large-scale crisis: how will the pandemic affect the U.S. economy and around the world