Washington AP (WBAP/KLIF) – Economics Writer More than 6.6 million Americans applied for unemployment benefits last week, far exceeding a record high set just last week, a sign that layoffs are accelerating in the midst of the coronavirus.
The job cuts are mounting against the backdrop of economies in the United States and abroad that have almost certainly sunk into a severe recession as businesses close across the world.
Last week’s figure is much higher than the previous record of 3.3 million reported for the previous week. The surging layoffs have led many economists to envision as many as 20 million lost jobs by the end of April.
Meanwhile, President Donald Trump is resisting calls to issue a national stay-at-home order to stem the spread of the coronavirus despite his administration’s grim projections of tens of thousands dying.
Also see: Federal Reserve predicts 32% unemployment rate thanks to coronavirus
One by one, states are increasingly pushing shutdowns: Florida, Nevada and Pennsylvania have all added or expanded stay-at-home orders.
