The number of Americans who lost their jobs because of the COVID-19 epidemic has surpassed the “grim” milestone of 40 million, according to The Guardian.
With 2.1 million people applying for unemployment benefits just last week, the number of Americans who lost their jobs because COVID-19 soared to more than 40 million.
This number marked a grim milestone in the economic crisis that has held the United States since the outbreak of COVID-19, with limited measures on a large scale and people being asked to stay home. Prevent the virus from spreading.
However, the latest data from the US Department of Labor shows that the new unemployment rate has been on a downward trend over the past few weeks compared to the peak in early April, when 6.6 million Americans applied. Unemployment benefits for 1 week.
In early May, the ministry also reported that more than 20 million Americans lost their jobs in April, bringing the unemployment rate to 14.7%, up from 4.4% in March. This is a record high. since the Great Depression of 1929-1933.
The COVID-19 epidemic has affected the job market in almost every industry in the United States, of which some industries have suffered more damage.
Data from the Ministry of Labor in early May showed that hospitality and entertainment were hardest hit, with 4.8 million jobs lost – nearly 40% unemployed – when travel stalled. with limited measures. Millions of education and health services, retail and manufacturing have also been cut.
Over the past few weeks, all 50 states in the US have begun to relax restrictions to reopen, albeit to varying degrees. This gives hope that the economy will revive when people start working again. However, observers say that it is still not possible to assess whether the unemployment rate will be improved or not.
Moreover, many businesses have reopened but still have to ensure anti-epidemic rules such as social spacing like in restaurants and cinemas. This means that the number of customers still decreased significantly compared to the time before the outbreak, causing instability for small businesses. Many local businesses have even been permanently closed, leaving tens of thousands of Americans unemployed indefinitely.
To date, the United States is still the country most heavily affected by the COVID-19 epidemic with more than 1,767,850 cases and more than 103,310 deaths.