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Unemployment rates highest since Great Depression

June 4, 2020

via email : linkedin – excerpt

The U.S. has paid out more in unemployment insurance benefits in the three months since the pandemic hit with force — $146 billion — than in the whole of 2009 during the financial crisis. But a Bloomberg analysis shows the amount is only about two-thirds of what’s owed to the 40 million people who have lost jobs due to shutdowns, as state-level systems struggle to process a backlog of claims.

  • Another 1.8 million people filed claims last week, data Thursday are expected to show, while Friday’s jobs report is forecast to show the highest unemployment rate (19.5%) since the Great Depression…(more)

One-Third of America’s Record Unemployment Payout Hasn’t Arrived

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