US unemployment claims pass 30m since coronavirus pandemic shutdown began

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More than 3.8 million laid-off workers applied for unemployment benefits last week as the US economy slid further into a crisis that is becoming the most devastating since the 1930s. 9News

No previous quarter has been anywhere near as weak since the government began keeping such records after World War II.

Factories, hotels, restaurants, department stores, movie theatres and many small businesses are shuttered. Home sales are falling. Households are slashing spending. Consumer confidence is sinking. That suggests that many industries will struggle with diminished revenue for weeks or months to come and might be unable to rehire laid-off workers.

Applications from the rest may still be pending, or they might have been turned down. Some applicants may not have earned enough money in their previous jobs to qualify for unemployment benefits.

 

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