WASHINGTON – The number of Americans applying for unemployment benefits last week probably amounted to thousands, and COVID-19 caused great economic damage nine months after the first case was shown in the United States.
Economists estimate that around 850,000 people sought unemployment assistance, up from 884,000 last week, according to a survey conducted by the knowledge company FactSet.
The pandemic has caused an unprecedented surprise in the economy: until the pandemic disrupted the activities of American companies, from factories to restaurants in the family circle, requests for weekly unemployment assistance had never exceeded 700,000 in the United States.
The economy in general, measured through gross domestic product, collapsed at an annual rate of 31. 7% from April to June, during the 3 worst months ever recorded, while millions of jobs disappeared.
The economy and the job market have recovered from the initial shock. Employers added 10. 6 million jobs from May to August, but that’s still less than some of the jobs lost in March and April.
The recovery remains fragile, threatened by continued COVID-19 infections as schools begin to reopen and an inability to provide a financial bailout for Washington.
Another $600 in weekly unemployment benefits sold out on July 31, which hardened families who depended on the accumulation of payments. President Donald Trump issued an executive order on August 8 offering a reduced edition of this expanded aid. allows them to accumulate weekly benefits through $300 or $400.
This program is about to expire.
The U. S. Department of Labor has not been able to do so. But it’s not the first time He unveiled his at 8:30 a. m. EAST Time.
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