Global RiskHealth & EnvironmentalNews Briefs

Coronavirus: US jobless claims hit 6.6 million as virus spreads

In the United States, the number of American former employees seeking unemployment benefits has hit an ultimate high for the second week in a row as the US economy suffers as a result of the COVID-19 pandemic. 6.6 million Americans have lost their jobs as a result of lockdown measures enacted to prevent the spread of the virus, subsequently prompting 6.6 million to file for unemployment benefits in the week of March 28.

The Department of Labor stated that the March 28 week total also almost doubles the amount of Americans who filed for unemployment the week before, which also presented a new record. The economic crisis ensues as the US experiences a dramatic increase in COVID-19 cases, with the country reporting over 236,000 cases as of yesterday. The death toll is now at 5,600 nationwide as the White House announces new restrictions to curb the outbreak. Analysts have warned Americans of a deep recession as a result of the pandemic, stating that the unemployment rate could reach as high as 15% as the country struggles to recover.

Read More: Coronavirus: US jobless claims hit 6.6 million as virus spreads

OODA Analyst

OODA Analyst

OODA is comprised of a unique team of international experts capable of providing advanced intelligence and analysis, strategy and planning support, risk and threat management, training, decision support, crisis response, and security services to global corporations and governments.