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The outbreak of the COVID-19 pandemic has had a deep impact on the rate of unemployment in the United States. The World Economic Forum predicts a possible rise in the unemployment rate to 20%, a figure unseen since the Great Depression. [76]
The COVID-19 pandemic has brought initial unemployment claims to 38.6 million in just nine weeks, according to the latest data from the U.S. Department of Labor — shattering historic highs ...
The COVID-19 pandemic led to a massive drop in persons in the labor force. According to Pew Research Center, from February 2020 to February 2021 an estimated 4.2 million people left the labor force because of COVID-19, 2.4 million of which were women. [47] [48] As a result, women's participation in the labor force was at a 30-year low. [49]
The United States depended on direct payments and loans to help individuals and businesses, regardless of whether jobs were retained. As a result, while aggregate hours worked decreased by around 15% in the United States and the European Union, unemployment increased significantly in the United States.
The number of Americans applying for state unemployment benefits remained mostly unchanged for the fifth straight week. US workers filed 837,000 claims for unemployment last week as coronavirus ...
The number of Americans forced out of work by the coronavirus pandemic has continued to climb, with another 4.4 million workers filing for unemployment benefits last week. The latest figure ...
Another 3 million Americans filed for unemployment benefits last week, raising the number of people forced out of work by the coronavirus pandemic to over 36 million. The devastating report ...
The COVID-19 recession was a global economic recession caused by COVID-19 lockdowns. The recession began in most countries in February 2020. After a year of global economic slowdown that saw stagnation of economic growth and consumer activity, the COVID-19 lockdowns and other precautions taken in early 2020 drove the global economy into crisis.