This Week's Unemployment Numbers Are Disastrous and Devastating

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Posted: Apr 02, 2020 11:30 AM
 This Week's Unemployment Numbers Are Disastrous and Devastating

Source: AP Photo/John Locher)

The numbers are in for the latest round of unemployment claims, which came in worse than expected. In the past two weeks, ten million Americans have lost their jobs. 

The numbers come as President Trump grapples with balancing advice from health experts to keep the economy essentially shut down until at least April 30, and the continued eocnomic fallout of widespread home isolation.

As people try to get relief by filing unemployment in their states, the systems have become completely overwhelmed. 

It's been a week since President Trump signed the CARES Act, which enables the Treasury Department to send individuals $1200 and families up to $3200. Yesterday the IRS and Treasury posted detailed information about qualifications and how to apply for other benefits in the rescue bill. 

“The financial strain American businesses are experiencing is not their fault,” Treasury Secretary Steve Mnuchin released in a statement. “These tax credits for small and mid-size businesses will cover the cost of providing paid sick and family leave wages, which will help protect the health of American families and businesses during this unprecedented time.”

That information can be accessed here