Last week alone, three million people applied for unemployment benefits in the country, which is the epicenter of the global pandemic, with at least 1.42 million infected by the new virus and 85,200 victims of the covid-19.
The latest figures show that while the rate of jobless claims is falling, the record layoffs have pushed the country to levels not seen since the Great Depression of the 1930s, in the wake of the collapse of the New York Stock Exchange.
Some states have begun to relax restrictive measures to contain the pandemic’s progress and this is expected to ease the economic situation.
Later, the American central bank (Federal Reserve) is to release a report detailing the economic outlook in the face of the coronavirus crisis. (With international agencies)