10 million unemployed in the US | Coronavirus business update


The Asian Development Bank has predicted the coronavirus pandemic will cost the world economy up to $4.1 trillion (€3.78 trillion) in lost economic activity, or nearly 5% of total global economic output.
The US jobs market is reeling from the impact of this pandemic, a staggering 10 million American workers have filed for unemployment in the last two weeks.
Stores and restaurants have been hit particularly hard. Last week, 6.6 million workers filed for unemployment benefit, that’s double the figure from the week before. Focus now turns to the March jobs report, due later on Friday. The massive surge in US unemployment has many asking about what the coronavirus fallout means for the global economy.
The latest polls here in Germany indicate support for the government’s handling of the Corona crisis. German pollsters infratest dimap also asked people about the effects of the pandemic. Results indicate that most people are concerned about a downturn in the economy – 75 percent of those questioned worry that Germany’s economic situation will deteriorate,
while 24 percent have little or no concern on this point.


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