Another around three million Americans filed for unemployment benefits last week as the coronavirus pandemic situation continued to exact its terrible toll on the US jobs market. As the reprt says that more than 33 million jobless Americans have been making claims in the past seven weeks.
The latest figures from the US labor department come ahead of the first official monthly report on the American jobs market since the pandemic triggered lockdowns across the country. In March, the official percentage within the US was 4.4%, on the brink of a 50-year low, but economists predict it could now be as high as 20%, a level unseen since the 1930s Great Depression.
As Governor Gavin Newsom said this week that the pace of layoffs overwhelmed state unemployment systems across the whole country. Over a million people in North Carolina have now made unemployment insurance benefit claims that equivalent to 20% of the state’s workforce. And 4 million have applied in California and the state’s jobless benefits fund is very close to running out.
Waybrant said that -“It’s a whole lot of mess, and I’m hoping that as we come out of this, we can rebuild our social systems to actually work. Not enough was done to require care of the everyday American”.
ADP, the US’s largest payroll processor said on Wednesday that 20m jobs had been cut from the private sector in April. The figure was worst job loss ADP had recorded since it began compiling the report in 2002. Co-head of the ADP Research Institute Ahu Yildirmaz said – “Job losses of this scale are unprecedented. The total number of job losses for the month of April alone was quite double the entire jobs lost during the good Recession”.