During the financial crisis, the worst month was the 800,000 in March 2009. Many economists are expecting the total for April to be in the millions.
Ian Shepherdson, chief economist at Pantheon Macroeconomics, sees the possibility of five million job losses in that month alone.
When all is said and done, the unemployment rate will be 10.6% and there will be 17.9 million Americans on the unemployment line, or about 12 million more than in February, according to a projection from Steven Blitz, chief U.S. economist at TS Lombard. The current jobless rate is 3.5%, the lowest in more than 50 years.
One survey released Thursday painted a far gloomier mosaic: SurveyUSA indicated that 14 million people already have experienced temporary layoffs, while 2% of the workers have lost their jobs outright. A bright side: a Towers Watson survey said 52% of employers who experience a shutdown will continue to pay employees.The big layoff numbers are not likely to show up until the April data is released in early May.
One upside to the coronavirus scenario is most economists still expect the downturn to be brief compared to other recessions, with the worst news front-loaded.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Running Has Taught Us Everything We Need to Persevere During Times of Uncertainty'This social distancing may have separated us physically, but it has connected us emotionally.' ❤️
Leer más »
U.S. Orders Up To A Year-Long Break On Mortgage PaymentsThe coronavirus outbreak shouldn't cost you your house. That's the message federal regulators are sending mortgage companies, urging them cut or suspend payments for 12 months for homeowners who've lost income.
Leer más »
U.S. calls for Afghanistan's 'urgent' release of Taliban prisoners due to coronavirusThe U.S. top negotiator in Afghanistan said that COVID-19 'makes prisoner releases urgent' as the Taliban's spokesperson urged 'world's humanitarian and health organizations to pay special attention' to their plight.
Leer más »