The total number of unemployed has reached 41 million and continues to grow
The past week of the pandemic showed that the number of Americans losing their jobs is gradually declining, but, nevertheless, another 2.1 million people applied for unemployment benefits, which brought the total number of unemployed to more than 41 million people in 8 weeks.
To date, the average US unemployment rate is slightly less than 15 percent, but experts say that despite the government’s efforts to start businesses and open states, in the summer the average will reach 20 percent.
And although the peak of the pandemic has passed, it is still too early to talk about the imminent end of the crisis. Every day, new data about infected and dead is received. The total number of deaths from coronavirus exceeded the mark of 100 thousand people in the United States and more than 335 thousand people around the world. Donald Trump expressed his condolences to the affected families on Twitter.
We have just reached a very sad milestone with the coronavirus pandemic deaths reaching 100,000. To all of the families & friends of those who have passed, I want to extend my heartfelt sympathy & love for everything that these great people stood for & represent. God be with you!— Donald J. Trump (@realDonaldTrump) May 28, 2020
Although the 15 percent unemployment rate seems reasonable to many economists in the current environment, this is only an average. According to official statistics, some states, such as Hawaii (22.3), Michigan (22.7), and Nevada (28.2) are among the most unemployed.
Forecasts for the near future are also disappointing. White House economic adviser Kevin Hassett previously predicted that the unemployment rate would not fall below double digits until the end of 2021. Taking into account such gloomy forecasts and a total crisis, many Americans are afraid not only to catch a deadly virus when they go to work but arguably they are not looking for jobs in such unfavorable and unstable conditions.