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Unemployment Rate is Highest Since March
WAHINGTON, DC- Unemployment figures showed 2.4 million people filed for benefits last week. That means 38.6 million people have filed jobless claims in the last nine weeks, or about one out of every four Americans who had a job in February.
The unemployment numbers alone do not capture the full picture of the economic carnage caused by the public health crisis. A new Census Bureau survey shows that 47% of all households say their income has declined.
Today’s news comes as Congress faces a largely partisan debate over whether to approve further federal relief.
House Democrats approved a plan that would extend enhanced employment benefits, which are set to expire in July, into January. Most Congressional Republicans say the total price tag of the relief bill is too much, and they believe the economy will bounce back as states begin to reopen.
In Illinois, the unemployment rate is 16.4%, the highest since 1976.