You can tell a lot about COVID-19 and the effects it’s had on the U.S. economy by looking at the numbers. The pandemic forced the closure of many businesses, at least temporarily, and led to record numbers of people losing their jobs.
Here’s one example: for the week ending June 27 there were 1.42 million new unemployment claims across the country. That’s was the 15th week that number had been over 1 million. There were also 840,000 new claims for the expanded federal Pandemic Unemployment Assistance.
The unemployment rate reached a high of 19.7% in April — levels not seen since the Great Depression, as much of the country was under stay-at-home measures.
For many, unemployment payments have been a lifeline, but one that is about to end, if nothing changes.
Recent Comments