A dangerous increase in the unemployment rate in the United States

With the spread of Corona, employers terminated 700,000 jobs

New York (UrduPoint Newspaper-International Press Agency - 04 Apr-2020) After nearly a decade in the United States, the record for jobs has been on the rise in March this year due to the spread of the Corona virus, employers have terminated more than 100,000 jobs. Make the US economy stagnate. The unemployment rate has risen to four.44 percent in the last fifty years, before the highest unemployment rate was three percent five percent, the government's monthly loss statistics data released by the government The worst since the recession of 2009 is a dim indication of what's going to happen next month. The jobs situation was worse last month as the largest number of employees were retired in the last 15 days.

In the last two weeks of March, about eight million Americans filed applications for the Unemployment Alliance before such a large number of applicants for the Unemployment Alliance could not be found on the virus. The dismissals were made, including hotels, restaurants, cinemas, motorsports, administrative offices and department stores, the highest since 1975, from February to March

Over the past decade, the US economy grew by 22.88 million jobs. Report on job status in April will be released in May. Experts expect the report to show that all jobs are finished General Chat Chat Lounge It is estimated that in March alone, 4 lakh 59 thousand, ie about two-thirds of the jobs, restaurants, hotels and casinos were terminated by the retailers, while 46,000 jobs were eliminated from the manufacturing sector.

In February this year, US employers provided 250,000 jobs. Some economists have predicted that during the next month, the unemployment rate could go up to 15 percent, even worse than the Great Depression of the 1930s. , When the unemployment rate reached ten percent. Currently more than 90% of the US population is subject to some kind of shutdown, forcing them to stay in homes; bars, restaurants, cinemas, factories, gyms and many other businesses are closed

The fast food ones are either closed or can only be taken from there, not stopped. That is why thousands of jobs have been reduced as business activity has become quite limited, so analysts expect the worst recession. Goldman Cheese economists predict the economy may shrink by 34% year-on-year in the April-June quarter, which will be the worst economic downturn since World War II, Goldman expects in the third quarter During this period the economy will be nineteen percent. However, the economy will not be able to fully recover from this loss until next year

The key factor in determining the future of the economy is whether businesses will be able to bear the burden of this shutdown, and will they be able to replenish most of the employees they have hired? If this happens then the economy may be back up again, and like the previous three times, its recovery will not be so slow yet some big and small businesses are paying for the healthcare benefits given to their employees, and Keeping in touch with your fired employees

However, if the business is closed by the end of summer due to a virus outbreak, many will go bankrupt or they will not have the money to re-recruit their former employees for these reasons. The employment rate will remain high which will not make the employees potentially get their wages and the pace of economic recovery will be slow.