The Coronavirus Pandemic Has Sent The U.S. Economy To
Historically High Unemployment Levels (Video)...And
Bankruptcies
August 31. 2020
The coronavirus pandemic continues to ravage the
U.S. economy. The virus has killed over 183,000 Americans and
sickened 6,030,000. The pandemic has sent U.S. unemployment to
record highs that have surpassed the awful numbers of the Great
Depression.
U.S. Vice President Mike Pence, U.S. President Donald Trump
and U.S. House Speaker Nancy Pelosi
Despite the fact the economy has added jobs since
lockdown ended, unemployment claims remain historically high.
Productivity is significantly down due to the virus, which
automatically translates into less national revenues.
President Donald Trump and House Speaker Nancy
Pelosi
As predicted on the site months ago in
the June 17, 2020 article "The Economic Struggles In America
During The Coronavirus Outbreak (Covid-19)" a massive number of
bankruptcies are now being filed due to the coronavirus.
STORY SOURCE
Unemployment Claims Remain Historically High
Updated Aug. 27, 2020 10:17 am ET - Unemployment claims fell slightly last week but remained
historically high, signaling layoffs continue as the coronavirus
continues to hamper the economic recovery.
New applications for unemployment benefits ticked down to one
million in the week ended Aug. 22, the Labor Department said
Thursday. Initial unemployment claims remain well below the recent
peak of about seven million in March but are far higher than
pre-pandemic levels of about 200,000 claims a week.
The number of people collecting unemployment benefits through
regular state programs, which cover most workers, edged down to
about 14.5 million for the week ended Aug. 15. So-called continuing
claims, which are released with a one-week lag, hit a high of nearly
25 million this spring but have declined in recent weeks, a sign
companies are bringing back workers...
https://www.wsj.com
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