Originally published at: VIRUS UPDATE: 5 Million More File for Unemployment, 22 MILLION Jobs Disappear in ONE MONTH | Sean Hannity
More than 5 million Americans filed for unemployment last week as the Coronavirus continues to cripple the economy; dragging the toll to 22 million jobs gone in just one month.
“Around 5 million more people filed for first-time unemployment claims last week, as the job market in every sector of the economy continues to be devastated by the coronavirus pandemic,” reports NBC News. “The staggering weekly number comes as President Donald Trump weighs plans to pull back on the social distancing measures that have shuttered businesses across the country, and reopen parts of the economy as soon as May 1.”
“State-mandated lockdowns have choked vast portions of the once-booming economy, kicking a total of 22 million people out of work and launching the nation into the worst crisis since the Great Depression,” adds the website.
“The job losses are historic,” economist Julia Coronado said. “It means that we are going to be in for a double-digit unemployment rate.”
“The labor market is obviously very, very important, and has a high correlation with what is going on in the economy,” Jay Bryson, the acting chief economist at Wells Fargo, told NBC News. “It is showing us what I think we all know, that the economy is falling off a cliff at an unprecedented rate.”
Read the full report at NBC News.
