U.S. Economic Report Shows 1 in 5 Americans Filed For Unemployment

The U.S. economic data reports recently released suggest nearly 1 in 5 Americans have filed for first time unemployment. It’s been determined nearly 33.5 million Americans have filed within the last seven weeks. April saw 20.5 million jobs lost. Those numbers have not been seen since the 1930’s Great Depression. Fortunately, experts believe the peak may be behind us. The last week of March was marked as the most devastating point. While it’s not getting better, a consistent decrease in claims over the last couple weeks may be a positive sign things won’t continue to get worse. Starting today, more than 40 states will be partially reopened. The Trump Administration has shelved the CDC’s 17-page recommendation for reopening and decided to proceed with allowing states to move forward on their own terms. Only time will tell if this was a good move. Presently, over 77,000 people have died from the coronavirus which has infected almost 1.3 million in the U.S.