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Coronavirus General View - Tuesday 3 March 2020 - Piccadilly, London

Source: WENN/Avalon / WENN

The number of Americans seeking unemployment benefits in the wake of the coronavirus outbreak has doubled in just a week. According to Labor Department figures on Thursday, a record 6.6 million individuals filed for assistance, up from the revised 3.307 million that had been the previous record.

The jump is likely to cause the unemployment rate, currently at a nearly 50-year low of 3.5%, to soar when released on Friday, with some estimates reaching as high as 15%. Making matters worse, this may not even be the complete picture, as many states’ employment websites are overwhelmed and can’t process all the claims.

If you lost your job, what are you planning next?

See story here

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