A Record 43,100,000 Million Americans Are
Unemployed Due To The Coronavirus Outbreak That Has Imperiled The
U.S. EconomyJune 4. 2020
U.S. President Donald Trump and House Speaker Nancy Pelosi
The U.S. economy continues to be battered by the
coronavirus outbreak. New economic numbers released this week
illustrates there are 43,100,000 people on unemployment. The U.S.
job market has collapsed and it's taking the economy with it.
Prior to the outbreak, which led to a lockdown, U.S.
unemployment was at record lows and the stock market hit record
highs. This reversal spells the decimation of select areas of
commerce, as a number of businesses stated at the beginning of the
lockdown that reopening would be unlikely. This has resulted in a
massive number of bankruptcies being filed. Real damage has been
done.
The first stimulus bill was not enough to address
the full breadth of the economic damage in America that was caused
by the coronavirus outbreak. Many Americans who received the $1,200
stimulus quickly spent it on bills and are still in the red.
Congress attempted to pass a second stimulus bill, but it has
stalled in the Senate, much to the distress of the American people.
Contrast it with Canada, who is giving their
citizens $2,000 per month for 4-months, to help them get through the
coronavirus outbreak and economic fallout, and it illustrates their
government understands the depth of the crisis, regarding its impact
on the public.
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