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News & Articles By Franz Walker
05/15/2020
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By Franz Walker
Nearly 3 million jobless claims filed last week as coronavirus continues to ravage the economy
A total of 2.981 million Americans filed for unemployment insurance this past week, the Department of Labor reported Thursday. The figure raises the eight-week total for jobless claims to more than 36 million, by far the biggest loss in U.S. history. Last week was the sixth straight week in which new jobless claims have fallen. However, claims remain […]
04/24/2020
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By Franz Walker
Coronavirus pushes unemployment to highest levels since the Great Depression
The global coronavirus (COVID-19) pandemic has pushed one in six Americans out of a job, swelling unemployment numbers to levels not seen since the Great Depression, according to new data released Thursday. According to the Department of Labor‘s weekly report on unemployment insurance claims, 4.4 million Americans filed for unemployment benefits last week. This means […]
04/16/2020
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By Franz Walker
Federal Reserve warns coronavirus will continue to ravage US economy
The Federal Reserve warned Wednesday the impact from the coronavirus outbreak could sink the economy even further. In its Beige Book, which contains anecdotal information on current economic conditions in each of the Fed’s districts, industries affected by the lockdown said that they expect “conditions to worsen in the next several months.” Businesses surveyed in the report said […]
04/12/2020
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By Franz Walker
Bankruptcies, unemployment “imminent” as coronavirus continues to batter the US
Economists from the Federal Reserve predict a wave in coronavirus-related bankruptcies in the next 12 months as the U.S. government continues to struggle with when to reopen the economy, and record numbers of people continue to file jobless claims. The claim was made by no less than three economists from The Fed — Juan Sanchez in […]
04/03/2020
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By Franz Walker
Jobless claims spike to 6.6 million, doubling last week’s record, as layoffs mount amid coronavirus pandemic
A record-shattering 6.6 million jobless claims were filed last week, according to the Department of Labor’s (DOL) weekly jobless claims report. This is more than double the number reported in the previous week, which itself also broke records. The week before, the DOL already reported a then record-setting 3.2 million jobless claims for the week, thanks to […]
04/02/2020
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By Franz Walker
The Fed WARNS more lay-offs are coming as the coronavirus continues to spread
The social distancing measures being put up to try to stop the spread of the coronavirus pandemic have resulted in the worst level of unemployment that the U.S. has seen in a long time. As bad as things are, however, a new estimate by the Federal Reserve is showing that they’re going to get much worse. A […]
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