Millions Unemployed as Coronavirus Pulls US Economy Down
Editor's Note: Late Thursday, the U.S. House of Representatives passed an additional $484-billion aid bill already approved by the Senate. The legislation now goes to the president to be signed into law.
About 26.5 million jobless Americans have asked the government for financial assistance over the last five weeks. The number confirms that all the job gains in the United States over the past 10 years have been lost during the coronavirus pandemic.
The rising levels of unemployment provide evidence for economists' claims that the U.S. economy entered recession in March. They also point to a collapse in retail and home sales, manufacturing production and homebuilding.
As the economic slowdown deepens, some Americans are protesting nationwide measures to control the spread of COVID-19, the disease caused by the virus. President Donald Trump is worried and wants to restart the economy as soon as possible. He is seeking a second term in elections later this year.
On Wednesday, Trump praised decisions made by some states to begin reopening their economies. Those states are governed by members of his Republican Party. U.S. health experts have warned of a possible increase in infections if areas reopen before the disease is under control.
The labor market is pushing into "new territory," notes Daniel Zhao, an economist with Glassdoor, a company that helps jobseekers. He added that the unemployment rate is already greater than the during the Great Recession .
The federal government reported Thursday that in the week ending April 18, more than 4.4 million unemployed Americans sought benefits from the government. Since March 21, over 26 million people have asked for government assistance. That represents 16.2 percent of the work force.
The U.S. economy created 22 million jobs between September 2010 and February 2020. That represents the longest increase in job growth in U.S. history.
The Labor Department said the high numbers of unemployed were because of "the COVID-19 virus."
Economists are saying as many as 25 million jobs were lost in April, which was the largest decrease in 11 years.
Is the worst over?
Although the number of Americans seeking unemployment benefits is high, it is decreasing. The number appeared to have reached a peak -- a record 6.867 million -- in the week ending March 28.
Job losses are likely "to continue across a number of industries in coming weeks, said Andrew Hollenhorst, an economist at Citigroup in New York.
The decrease in unemployment claims is partly a result of congressional legislation. Under a $2.3 trillion program, small businesses are offered loans that could be partially forgiven if they are used to pay their workers.
The U.S. Senate on Tuesday approved $484 billion in additional aid. If it becomes law, the measure would mostly expand loans for small businesses.
The government aid is designed to prevent additional unemployment.
Economists will continue to study the number of Americans who asked the government for jobless benefits. This number is considered a truer picture of total unemployment nationwide. In the week ending April 11, the number was nearly 16 million.
Economists believe the unemployment rate this month will be the highest since the end of World War II. The old record -- of 10.8 percent – was set in November 1982. The April totals will not, however, come near the 25 percent unemployment rate in 1933 during the Great Depression.
I'm Jonathan Evans.
1.unemployment benefits 失业救助
He will appeal to the state for an extension of unemployment benefits.
2.unemployment rate 失业率
No one disputes the direct linkage between the unemployment rate and crime.
3.government assistance 政府援助
The move clears the way for massive government assistance to flow into the region.
4.the Great Depression 经济大萧条
After the war, the country experienced social and economic unrest and suffered from the Great Depression of the1930s.
5.She explained that North Korea took these measures early because officials there are afraid the country cannot deal with a virus spread.
economic slowdown 经济放缓
Restrictive monetary policy will lead to an economic slowdown in emerging markets.
In spite of the global economic slowdown, China's economy has continued to maintain sound development.
6.President Donald Trump is worried and wants to restart the economy as soon as possible.
as soon as possible 尽快
I take the view that she should be stopped as soon as possible.
The minister advised him to leave as soon as possible.
过去5周里，美国约2650万失业民众向政府寻求经济援助 。这一数据证实，过去10年美国获得的所有工作机会都在新冠病毒大流行期间流失 。
失业率上升为经济学家预测的美国经济在3月进入衰退的说法提供了证据 。他们还指出零售和房产销售，制造业生产和住宅建设发生崩盘 。
随着经济放缓不断加深，一些美国人开始抗议为控制新冠肺炎传播而实施的全国性措施 。特朗普总统也很担心，并希望尽快重启经济 。特朗普正在寻求在今年年底的大选中连任 。
周三，特朗普赞扬了一些州开始重启经济的决定 。这些州由他所在的共和党的成员领导 。美国卫生专家警告称，如果在疫情得到控制前重新开放该地区，感染人数可能会增加 。
为求职者提供帮助的“玻璃门”公司的经济学家丹尼尔·赵（Daniel Zhao）指出，劳动力市场正在进入新领域 。他还指出，现在的失业率已经超过了大萧条时期 。
美国联邦政府周四报告称，截至4月18日的这周里，超过440万的失业民众向政府申请失业补助 。自3月21日以来，已经有超过2600万申请政府援助 。这一人数占全部劳动力的16.2% 。
在2010年9月到2020年2月期间，美国经济创造了2200万个就业机会 。这是美国历史上就业增长最久的一次 。
尽管申请失业救济的美国人数很多，但是人数正在减少 。在截至3月28日的这周里，这一数字似乎达到了创纪录的峰值——686.7万 。
花旗集团驻纽约经济学家安德鲁·霍尔伦霍斯特（Andrew Hollenhorst）表示，未来几周，多个行业的失业情况可能会继续 。
失业人数减少的部分原因可能是国会立法 。根据一项2.3万亿美元的计划，向小企业提供的贷款如果被用于支付员工工资，可以部分免除还款 。
美国参议院周二批准了4840亿美元的新增援助 。如果获得通过，这项措施将主要扩大小企业的贷款 。
经济学家继续研究向政府申请失业救济的美国人数量 。该数字被认为是全国总失业率的真实体现 。在截至4月11日的这周里，该数字接近1600万 。
经济学家认为，本月的失业率将成为二战结束以来的最高水平 。此前10.8%的失业率是在1982年的11月份创下的 。而4月份的总失业率将不会接近1933年大萧条时期的25%失业率 。