USA: Number of unemployed grows despite economic reactivation

(Patria) – Another 2.4 million Americans have applied for unemployment benefits even though the economy began to recover two weeks ago.

Statistics from the Department of Labor reveal that 39 million Americans have lost their jobs in 9 weeks. The weekly loss rate has somewhat slowed after reaching a peak of 6.6 million in April, but it remains at a level not seen since the Great Depression of the 1930s.

Treasury Secretary Steve Mnuchin stated that he expects unemployment to continue to rise as a consequence of the pandemic, but warned of 'lasting damage' to the economy if isolation is prolonged.

The official unemployment rate is now 14.7%, the highest since measurements began. Economists believe that actual unemployment is much higher, and that the official rate will soon exceed 20%.

All American states have now begun to ease measures with the aim of reactivating the economy, but surveys show that most Americans are concerned about returning to work because they fear the coronavirus, and a large number of businesses remain closed.

According to Worldometers data, 1,620,902 coronavirus infections have been confirmed in the USA, 96,354 have died, and 382,169 citizens have recovered.