Things are going bad to worse in the United States as Coronavirus Pandemic is expanding its tentacles. Roughly 26 million people have now filed for jobless aid in the five weeks since forcing millions of employers to close their doors.
Since Mid-March, about 1 in 6 American workers have become jobless after the worst string of layoffs on record. The worst is yet to come as the economist say the unemployment could go as high as 20% in April. They say this is the worst economic crisis in the United States since the Great Depression of the 1930s.
They also predict that the nation’s output could shrink by twice the amount that it did during the 2008 Recession. With things going out of control, several states have started re-opening their economies. Twenty states already announced their plans to ‘safely’ reopen their economies. That is nearly 40% of the US population.
Around 30% of the total Coronavirus cases across the globe are in the United States. The country had already registered around 50,000 fatalities.
