More Than 40 Million Americans Have Filed for Unemployment During COVID-19
In April, an estimated 20.5 million Americans lost their jobs due to the economic crisis spurred by COVID-19. And per a recent tally by the U.S. Department of Labor, it's estimated that more than 40 million Americans have put in a claim for unemployment benefits since March. In fact, for the past 10 weeks in a row, unemployment claims have been in the millions, and that's telling, since we've never seen even a single week of 1 million jobless claims before -- not even during the Great Recession.
Recently, a senior White House economic advisor predicted that the jobless rate could reach upward of 20% for May and June and stay that way well into the latter part of 2020. Given that the economy is still largely shuttered, that's a reality many workers have no choice but to face.
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Source Fool.com
