More than 30 million Americans lose their jobs in six weeks.
Another 3.8 million people who have lost their jobs have applied for benefits in the United States, as the coronavirus pandemic continues to wreak havoc on the world’s largest economy.
It took the total national number of people who have become unemployed in the past six weeks to 30.3 million, or approximately one in six American workers.
Some economists predict that when the US unemployment rate for April comes out next week, it could be as high as 20 per cent — a figure not seen since the depression of the 1930s, when joblessness peaked at 25 per cent.
The economy is expected to contract in the April-June quarter by as much as 40 per cent at an annual rate.
Read more here: https://www.abc.net.au/news/2020-05-01/coronavirus-update-australia-covid-19-world-economic-crisis/12203620
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