President Donald trump said that the coronavirus pandemic inflicted on US a heavier blow than the attack on pearl Harbor during world war II or the terrorist attacks of September 11, reports Voice of America.
In the first quarter US GDP fell by almost 5%, the maximum since the global economic crisis of 2008-2009. Researchers say about record job cuts in the country, and the President, the trump called the situation “a terrible attack on the United States.”
Japan’s surprise attack on naval base pearl Harbor in Hawaii in 1941 drew the U.S. into world war II.
The attacks of September 11, 2001 claimed the lives of about 3 million people, mostly in the buildings of the world trade center in new York, and has led to wars and anti-terrorist operations, which the US is waging in Iraq, Afghanistan and other countries for nearly 20 years.
Meanwhile, the US economy, the largest in the world, is rapidly crumbling in a pandemic coronavirus. New data suggests that American companies in April has decreased 20.2 million jobs.
6 April, ADP Research Institute said that April’s job losses were the biggest in 18 years of observations, and more than twice exceeded the previous record set in February 2009, during the great recession. The Institute claims that the cuts affected small, medium and large companies in the country.
Moreover, the total loss in the previous month was probably much more because the Institute completed the compilation of data on 12 April, following the schedule of reporting, which supports the Bureau of labor statistics of the United States.
Already of 30.3 million people have applied for compensation on unemployment since then, as the pandemic has swept the U.S. and resulted in the widespread cessation of commercial activity, which is only now beginning to resume.
Millions of other laid-off applied for unemployment benefits in each of the past six weeks. The amounts of these payments vary from state to state but usually are less than half of what workers usually received.
To maximize these benefits, the US government will pay the unemployed an extra 600 dollars a week for the next four months.
In the period from January to March, the volume of the us economy declined by 4.8 percent. The effect of the pandemic began to be felt in the United States only in the second half of March.
Household spending in the U.S. fell 7.6 percent in the first quarter, and business investment by 8.6 percent.
Thursday, April 7, will be published new data on payments of unemployment benefits, and on Friday the government intends to publish the April data on the state of the economy as a whole.
Some economists expect them to show a decline in domestic production of goods and services by 15-20 percent compared to March, and possibly longer.
As previously wrote ForumDaily:
Federal aid in connection with the coronavirus: a complete guide to questions and answers
Unemployment in new York: how many people have lost their jobs and what will happen next
In California will pay unemployment benefits to those who do not have the rights.
How to apply for unemployment benefits in your state: useful contacts