Some 4.4 million Americans file new claims for jobless benefits in the week that ended April 18, underscoring the damage done by the coronavirus crisis.
The new bill under consideration would provide another $320 billion in funding for ato aid small businesses, along with $75 billion for hospitals, $25 billion to expand virus testing, and $60 billion in disaster recovery loans and grants.
The US has recorded more coronavirus-related deaths than any other nation, with the toll at nearly 47,000 as of early Thursday, according to Johns Hopkins University.Calling the jobless figure"extraordinarily elevated," Oxford Economics predicted the US was on track for a spike in the unemployment rate to 24%.
For Ian Shepherdson of Pantheon Macroeconomics, a further decline in unemployment claims is expected next week.
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