US jobless claims rose by 70,000 to 281,000 for the week ending March 14, exceeding economist estimates for a 220,000 increase. The newly released data offers an early glimpse at how severely the coronavirus outbreak will hurt the US economy.
Business closures and quarantine orders driven by the spreading virus have contributed to layoffs, leading people to file for unemployment. At least 11 states have seen skyrocketing numbers of people filing for unemployment benefits, according toThe Trump administration has proposed a $1 trillion stimulus package as a lifeline to the battered American economy.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Tech supply-chain expert: Asian companies are worred about US demand - Business Insider'Everybody's holding their breath': Coronavirus concerns about the global tech supply chain have reversed — with recovering Asian suppliers now worried about US demand The U.S. can manufacture ANYTHING, if they cut the crap and stop making everything overseas. (because of freaking greed). This is interesting, I wonder if the supply chain will balance out in the next upcoming weeks Everyone's at home. Production halt.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Coronavirus: US needs aviation task force to rescue airlines, Boeing - Business InsiderDuring the financial crisis, the Obama administration formed an Auto Task Force to manage the orderly reorganization of General Motors and Chrysler. How about no. They got their tax breaks so fuck them Yet another indicator the airline industry has yet to make a profit Did the Arlines not use their profits and tax reductions to buy back stock and give bonuses to Execs?
Source: BusinessInsider - 🏆 729. / 51 Read more »
Coronavirus school closures would cost US economy $51 billion a month - Business InsiderSchools across the country are shutting down to stem the outbreak of the novel coronavirus — and those decisions are costly. Is it worth it? The bigger question is what could it cost if you don't
Source: BusinessInsider - 🏆 729. / 51 Read more »
Why coronavirus fallout will accelerate cord-cutting in US - Business InsiderThe rate of US cord-cutting is likely to accelerate due to the impacts of coronavirus on live sports programming and household discretionary spend.
Source: BusinessInsider - 🏆 729. / 51 Read more »
GM, Ford, Fiat Chrysler shutting US factories coronavirus - Business InsiderThe Detroit Big Three and the UAW had earlier agreed to a production drawdown, but further coronavirus cases at plants has led to more shutdowns.
Source: BusinessInsider - 🏆 729. / 51 Read more »