The unemployment rate in the United States is racing towards levels not seen since the Great Depression of the 1930s, with one in six Americans currently out of work since the Coronavirus outbreak began in March.
“More than 4.4 million laid-off Americans applied for unemployment benefits last week, the government said Thursday. In all, roughly 26 million people — the population of the 10 biggest U.S. cities combined — have now filed for jobless aid in five weeks, an epic collapse that has raised the stakes in the debate over how and when to ease the shutdowns of factories and other businesses,” reports the Associated Press.
“In the hardest-hit corner of the U.S., evidence emerged that perhaps more than 2 million New York state residents have been infected by the virus — several times higher than the number confirmed by lab tests,” adds the AP.
The Senate passed a bipartisan stimulus package earlier this week; the fourth in the last two months to help provide economic relief to small businesses and workers impacted by the illness.
Read the full report here.