Last week, about 5 million people applied for unemployment benefits, since the labour market in all sectors of the economy continue to collapse due to pandemic coronavirus.
President Donald trump has already announced that it plans to discontinue the measures of social distancing in some States and the reopening of part of the business by may 1.
In connection with the quarantine of almost 22 million people were left without work, which led the country into the worst crisis since the great depression.
«Losing a job is a historic, says economist Julia Coronado. — This means that we will have double-digit unemployment».
Weekly applications for unemployment benefits has acquired a new meaning, so economists and politicians are trying to circumvent the scope of this crisis.
«The labor market is obviously very, very important and has a high correlation with what happens in the economy, said NBC News acting chief economist of the Bank of Wells Fargo’s Jay Bryson. — This shows us what I think we all know that the economy is falling off a cliff with unprecedented speed.»
Economists study the weekly figures, waiting for other data from the Federal government. At the same time, the public health crisis continues and no one knows when it will end measures for social distancing.
«I guess the unemployment rate probably already exceeded 10%, maybe 13% or 14% — said Joel prakken, chief US economist at IHS Markit. And I think the day that trump is really afraid, may 8».
This Friday, April 17, the Federal government plans to publish unemployment data for April, and economists agree that they are likely to be pretty grim, and job losses will be at least 20 million people.
