After another 2.4 million Americans applied for unemployment benefits last week, a new federal data has revealed that more than 38 million Americans have lost their jobs since the pandemic started.
The pandemic has left the country in a state of panic as businesses have been forced to close down.
It has also been reported that the number of people filing for unemployment benefits surged to more than 25 million in the week ending May 9, the feds said.
This means that more people are still losing their jobs.
While the weekly totals of initial jobless claims have fallen steadily since late March, the seasonally adjusted numbers have remained high as overwhelmed states slogged through large backlogs of applications, NY Post reported.
The latest jobless claims were filed in the same week as the feds’ monthly employment survey that will be used to generate the closely watched jobs report for May. April’s survey showed unemployment spiking to a record 14.7 percent as the economy shed more than 20 million jobs, the worst losses since the Great Depression.
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