The number of Americans thrown out of work could be much higher than the unemployment claims
The number of Americans filing for unemployment benefits has climbed past a whooping 30 million and, as bad as the numbers are, some are already outdated because of the lag in gathering data, and the true economic picture is almost certainly much worse.
The statistics are likely to stoke the debate over whether to ease the lockdowns that have closed factories and other businesses. While many states and countries have pressed ahead, health officials have warned of the danger of a second wave of infection, and some employers and employees have expressed fear of going back to work when large numbers of people are still dying.
In the U.S., the government reported that 3.8 million laid-off workers applied for jobless benefits last week, raising the total to 30.3 million in the six weeks since the outbreak took hold. The layoffs amount to 1 in 6 American workers and encompass more people than the entire population of Texas.
Some economists say that when the U.S. unemployment rate for April comes out next week, it could be as high as 20% — a figure not seen since the Depression of the 1930s, when joblessness peaked at 25%.
The number of Americans thrown out of work could be much higher than the unemployment claims show, because some people have not applied and others couldn’t get through to their states’ overwhelmed systems. A poll by two economists found that the U.S. may have lost 34 million jobs.