There's likely worse to come — economists expect that the greatest economic contraction will hit in the second quarter, which includes the months of April through June. And, while unemployment claims have trended down over the last few weeks, continued elevated applications are worrisome. In just six weeks, roughly 29 million Americans have lost their jobs and filed for UI.
After last week's unemployment claims report, one in six American workers had recently lost a job. If job losses continue,An investment chief who oversees $29 billion explains why he's bullish on a niche industry that's 'like the red blood cell of tech' — and shares 2 stocks he's buying Emma Gibson, 23, was the assistant audio engineer for Sesame Street Live until mid-March, when the touring show was canceled and all of the staff was sent home. She applied for unemployment in her home state of Florida at the end of the month, she told Business Insider.
"That's definitely been a struggle," Gibson said. "When you apply it says it will take 72 hours to process, and it definitely took way longer than that." Elevated claims may also show that layoffs due to the coronavirus pandemic have extended beyond the first sectors hit, such as entertainment, restaurants, and nonessential retail and services.
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