Another 5.2 Million Americans Claim Unemployment Benefits

Another 5.2 Million Americans Claim Unemployment Benefits. The number of Americans who are reporting unemployment benefits because of the corona crisis is increasing rapidly.

 

Last week, another 5.2 million people who lost their jobs because of the crisis turned to support, the US Department of Commerce announced.

In the four weeks that the corona crisis has hit the US hard, the counter stands at over 22 million applications. In less than a month, ten years of efforts to improve employment have thus been undone. Since 2009, 21.5 million jobs have been created in the US.

Economists expected 5.5 million applicants to join this week. Last week, more than 6.6 million Americans were affected. A week earlier, it was very busy at the WW counter with a record number of 6.9 million requests.

The aid applications give an idea of the state of the world’s largest economy. Economists previously calculated that the US is heading for an unemployment rate of over 10 percent in April on these massive amounts of aid claims.

An unemployment rate of at least 17 percent is now taken into account, which is also well above the 10 percent rate reached during the crisis in 2009.

According to the ministry, the number of current benefits also rose sharply. These went from 4.5 million to a record 12 million in a week. These figures are published with a delay of one week.

The US Federal Reserve umbrella, the Federal Reserve, noted earlier this week that for all regions of the country, business prospects are uncertain. A deterioration rather than an improvement in circumstances must, therefore, be expected shortly.