US Weekly Jobless Claims Soar to Record 3.28Mln Amid Coronavirus Crisis - Labour Dept

WASHINGTON (Sputnik) – The coronavirus wreaked havoc on the US labour market, with more than 3.2 million Americans filing for unemployment benefits in the week ending March 21 – nearly five times higher than the previous weekly record set some four decades ago, the Labour Department reported on Thursday.

Compared with the previous week, 3,001,000 additional Americans applied for unemployment benefits, according to seasonally adjusted Labor Department data, the release said.

A $2.2 trillion emergency economic rescue package approved by the Senate Wednesday night will provide unemployment insurance benefits equaling about $24 per hour for four months.

On a 47-47 vote, the Senate defeated an amendment that would have reduced benefits, despite warnings from several lawmakers that employees earning less than $24 an hour prior to being furloughed would have little incentive to return to work, at least until the four-month benefit period expires.

Sourse: sputniknews.com

US Weekly Jobless Claims Soar to Record 3.28Mln Amid Coronavirus Crisis – Labour Dept

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