Roughly 22 million Americans have sought jobless benefits in the past month—easily the worst stretch of US job losses on record. 9News
Layoffs are spreading well beyond service industries like hotels, restaurants, retail stores and entertainment, which have absorbed the brunt of the job cuts, into white collar professional occupations, including software programmers, legal assistants and sales people. Workers in other occupations, like construction, are also suffering.
It's unlikely that all those workers will be laid off or file for unemployment benefits. But it suggests the extraordinary magnitude of unemployment that could result from the pandemic. That figure is less than the number of applicants in part because it lags behind the number of first-time jobless claims figure by a week. And many people who apply for unemployment aid are turned down and don't actually receive checks.
US industrial output fell by the most since 1946 and home building plunged 22 per cent in March from the previous month.
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