Since the outbreak of Covid-19, more and more Americans have been unemployed to apply for government benefits.
According to the Washington Post, the trend has continued to increase over the past week, when data showed that 6.6 million Americans signed up for unemployment benefits, the Labor Ministry said on April 8.
Since US President Donald Trump declared a national emergency because of Covid-19, a total of 17 million Americans have been unemployed, an unprecedented increase in the country’s history.
In the last week of March, there were 6.8 million Americans declared unemployed.
Government officials and health officials have ordered the businesses closed in an effort to control the cororna virus to “smooth the curve” and prevent the health system from overloading.
However, the side effect of this is an increase in the unemployment rate. Janet Yellen, former chairman of the Fed and one of the world’s leading economists, said the US unemployment rate has now risen to 13%, the worst number since the Great Depression (1929). -1933).
“It seems that the unemployment rate will increase to 15%. This is not a crisis, it is the Great Depression II,” said Chris Rupkey, chief economist of MUFG Bank.
“Today’s data continues to reflect the sacrifices that American employees and their families chose to slow the spread of the corona virus,” Labor Secretary Eugene Scalia said in a statement.
It usually takes 2 to 3 weeks to process a person’s claim for unemployment benefits. Since Trump declared a national emergency on March 13, employment support facilities across the country have been overloaded, resulting in longer waiting times.