US unemployment reaches 3.3 million people as coronavirus cripples economy
Written by luck on March 26, 2020
America is circling the drain as coronavirus continues to cripple our economy.
Businesses all around the country have been forced to make massive layoffs of their employees because they simply cannot afford to pay people to work when there is no work to be done. According to the AP, 3.3 million Americans filed for unemployment last week which is FIVE TIMES more than the record that was set way back in 1982.
Restaurants, hotels, movie theaters, gyms, and airlines and many other businesses have collapsed and those that are still functioning might not be for long as we prepare to sink deeper into this recession. During The Great Recession of 2007, the highest unemployment number was 10%. We’re only a couple weeks into social distancing and shelter-in-place and we’ve already eclipsed that figure.
S#!t is only going to get worse as more testing is done and more states are forced to quarantine its residents for safety.
“What seemed impossible just two weeks ago is now reality,” said Nancy Vanden Houten, an economist at Oxford Economics, a consulting firm. “The US economy will experience the largest economic contraction on record with the most severe surge in unemployment ever.”
As BOSSIP previously reported, Donald Trump is pressed to get people back into their jobs to bolster the economy he needs to potentially get re-elected in November.
F**k Donald Trump.
Nobody tryin’ to die to save his political career.