Bilal Uddin's blog | WHAT REALLY HAPPENED

Bilal Uddin's blog

May 04 08:51

The New Unemployment Wave and What Should We Do?

US is on the list of the countries that has been effected the most in this Coronavirus Pandemic. The sudden jump in the rate of unemployment and insufficient unemployment funds leading to the global recession.

Mass layoffs and health crisis not only dent the economy but also have severe psychological and financial impacts on the unemployed workers.

Government jobless benefits are turning out to be inadequate as more and more people are filing for unemployment.

According to the labor department report, 3.8 million people filed for unemployment insurance in the last week of April that takes the tally to 30.3 million unemployment claims in six weeks. Almost twenty percent people who had jobs in February shift their status to unemployed.

Half of the American have either lost their jobs or faced reduction in their work hours.

SHARE THIS ARTICLE WITH YOUR SOCIAL MEDIA