More than 3.8 million people filed for unemployment benefits last week, according to the Labor Department, as the coronavirus pandemic’s economic toll burrowed deeper into the American workforce. The outbreak and subsequent recession have wiped away all jobs created since the 2008 financial crisis. Economists estimate the national unemployment rate sits between 15 and 20 percent, compared to about 25 percent at the peak of the Great Depression. For comparison, 4.4 million people applied for benefits for the week ending April 18, and 30.3 million have sought benefits in the past six weeks alone.
Source: The Washington Post
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