Weekly jobless claims in the U.S. surged to 3.28 million this week; 3 million more than last week, as unemployment has prompted the Senate and the House to pass a $2 trillion stimulus bill
Last week, weekly unemployment claims surged 33% to 281,000 from 211,000 the week before; this was before layoffs related to the coronavirus outbreak had begun in earnest.
Unemployment issues were front and center in the Senate last night: the $2 trillion economic relief bill stalled for hours afterclaimed its unemployment provisions, which would provide some workers $600 a week more in unemployment than their typical hourly wages, would incentivize Americans not to return to work.
The bill, which passed the Senate late last night and is now headed for the House, would also provide unemployment benefits for those not traditionally eligible, including self-employed workers and independent contractors.As the coronavirus pandemic batters markets, closes schools, suspends major conferences and sports leagues and upends the travel industry, businesses have begun
. The latest: New York City real estate startup Compass laid off 15% of its workforce, and Air Canada said it will lay off 5,100 members of its cabin crew, about half of its current roster. work in the five sectors that are at the highest risk for a major slowdown in the United States: mining/oil and gas, transportation, employment services, travel arrangements, and leisure and hospitality.
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