The US is undergoing rough times with the deadly impact left on the nation by the novel coronavirus with the fatalities and the positive cases of COVID-19 increasing rapidly.
Now the COVID-19 has hit the jobs of the Americans as around 26 million American nationals have applied for the jobless aid within five weeks of the companies shut the offices due to the pandemic.
The data states that from the Mid-March every 1 in 6 American employees lost their lives due to the pandemic as many companies have laid off their employees. Many economists are in the opinion that unemployment might go to 20% in the nation.
If the observations of economists appear to be true then it might turn into the worst ever economic crisis in the US since the Great Depression of the 1930s which has shocked the world entirely.
Many experts also cite that the output of the US might also get a dip by twice to that of the 2008 Recession. With the things slipping out of their hands, some of the states have reopened their economies with some exemptions.
Now the COVID-19 has hit the jobs of the Americans as around 26 million American nationals have applied for the jobless aid within five weeks of the companies shut the offices due to the pandemic.
The data states that from the Mid-March every 1 in 6 American employees lost their lives due to the pandemic as many companies have laid off their employees. Many economists are in the opinion that unemployment might go to 20% in the nation.
If the observations of economists appear to be true then it might turn into the worst ever economic crisis in the US since the Great Depression of the 1930s which has shocked the world entirely.
Many experts also cite that the output of the US might also get a dip by twice to that of the 2008 Recession. With the things slipping out of their hands, some of the states have reopened their economies with some exemptions.