In the past week, nearly 3 million laid-off US workers applied for unemployment benefits
A woman looks for information on the application for unemployment support at the New Orleans Office of Workforce Development, as the spread of coronavirus continues, in New Orleans, Louisiana, US, April 13, 2020.
Roughly 36 million people have now filed for jobless aid in the two months since the coronavirus first forced millions of businesses to close their doors and shrink their workforces, the Labor Department said on Thursday. An additional 842,000 people applied for aid last week through a separate federal program set up for the self-employed and gig workers.
In Georgia, one of the first states to partially reopen its economy, the number of unemployment claims rose last week to 241,000. Even those figures failed to capture the full scale of the damage. The government said many workers in April were counted as employed but absent from work but should have been counted as temporarily unemployed.
The job market’s collapse has occurred with dizzying speed. As recently as February, the unemployment rate was 3.5 percent, a half-century low. Employers had added jobs for a record 9½ years. Even in March, unemployment was just 4.4 percent. Few analysts expect a quick rebound. Federal Reserve Chair Jerome Powell warned on Wednesday that the virus-induced recession could turn into a prolonged downturn that would erode workers’ skills and employment connections while bankrupting many small businesses.
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