The NPR Politics Podcast Nearly Ten Million Americans Have Filed For Unemployment In The Last Two Weeks
Apr 2, 2020
Nearly 10 million Americans filed for unemployment in just two weeks, marking a staggering rise sparked by the pandemic. The discussion compares this crisis to the Great Recession and underscores the unique challenges in assessing total job losses. The tourism and hospitality sectors are particularly hit hard, facing severe implications. Experts also review the government's multi-trillion dollar rescue package intended to bolster those affected, while addressing the difficulties in implementing economic relief measures.
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Record Unemployment Claims
- Nearly 10 million Americans filed for unemployment in the last two weeks, doubling the previous record.
- This number could be higher as some people couldn't access the unemployment systems.
Speed and Scope of Job Cuts
- Job cuts are remarkable in scope and speed, resembling a nationwide medical hurricane.
- The current situation is about 10 times worse than the Great Recession's worst week.
Future Job Losses
- While 6.6 million applications may be the weekly peak, job losses are expected to continue.
- Forecasts predict up to 20 million job losses and unemployment rates exceeding the Great Recession's 10%.