3 million more U.S layoffs intensify fears of lasting damage

Washington: Nearly 3 million laid-off workers applied for U.S unemployment benefits last week as the viral outbreak forced more companies to slash jobs even though most states have begun to let some businesses reopen.

Roughly 36 million people have now sought jobless aid in just the two months since the coronavirus first forced businesses to close down and shrink their workforces, the government said.

An additional 842,000 people applied for aid last week through a separate program for self-employed and gig workers.

The pace of new applications for aid has declined over the past several weeks but is still four times the record high that prevailed before the coronavirus struck hard in March.

 

Asianet.in/ Desk: Asianet Online