Just last week, over 4.4 million Americans filed for unemployment allowance. The growing unemployment rate is the highest since 1929 when the ‘Great Depression’ hit the world. Experts have warned that this could be a long battle and the road to recovery could be laden with many problems.
This has increased the number of unemployed in the US to over 26 million. This means that one in six people are unemployed presently.
According to experts, high unemployment rates will continue to remain this year and high chances exist that this may stretch on to even next year.
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The House of Representatives has just cleared an additional fiscal stimulus amounting to USD 500 billion.
According to reports, patience is running out and many states that had shut down following the ‘social distancing’ norms that were imposed are now clamoring to reopen and get back on the path to recovery.
From Friday, the state of Georgia will reopen all its gyms, hair saloons and bowling alleys. Texas has already opened up its state parks.
A small, preliminary survey also found out that many people have been infected by the virus. An anti-body test conducted on 3000 people revealed that over 30% of them that been infected.
According to experts, New York with a population of over 8.6 million people may have at least 1 million people who may be infected in the near future.
The US has presently witnessed over 40,000 deaths due to the virus.