Another 3.2 million Americans filed jobless claims last week
With layoffs spreading, one-fifth of the U.S. workforce has applied for unemployment aid in the past two months.
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With layoffs spreading, one-fifth of the U.S. workforce has applied for unemployment aid in the past two months.
More than 25 million Americans likely lost their jobs last month — far more than during the entire Great Recession.
This week on 60 Minutes: Americans unemployed by coronavirus share their stories; Then, small, medium-sized farmers on edge while trade war bailout money goes to some surprising recipients; And, rural Texas hospitals and clinics are going broke.
The new Payroll Protection Program has processed more than $500 billion in loans to help small businesses survive the coronavirus lockdown, but critics say the PPP isn't doing what it was meant to. The loans will be forgiven only if businesses spend 75% of the money on their employees in just eight weeks. But, Ed O'Keefe reports that some workers have concerns about going back to work.
30 million Americans filed for unemployment in the last six weeks, as the pandemic ground the U.S. economy to a halt. Scott Pelley met a few of the many who are trying to get back on their feet.
No state has been left untouched by the jobless crisis, but some have been hit much harder than others.
60 Minutes meets with some of the 30 million American economic victims of the pandemic, Sunday at 7 p.m. ET/PT
60 Minutes reports on some of the 30 million American economic victims of the pandemic, Sunday at 7 p.m. ET/PT
The number of U.S. workers filing for unemployment remains at "unthinkable" levels, experts say.
Arizona, Florida, Indiana, Minnesota and South Carolina taking longest to connect the jobless to their jobless aid.
The Trump administration announced Thursday that it is launching "Operation Warp Speed," which will speed up the development and distribution of a potential coronavirus vaccine. CBSN political contributor and Associated Press White House reporter Zeke Miller discusses the announcement and the rest of the day's political headlines.
The latest jobs report shows an additional 3.8 million people filed for unemployment last week, bringing the total to 30.3 million people without jobs. Frances Stacy, Optimal Capital's director of portfolio strategy, joined CBSN to explain what these new numbers mean and if it's too late for the U.S. to make a V-shaped recovery.
Jessa Lewis, a self-employed single mom, is about to be three months behind in rent.
Millions of workers are now in limbo as the outbreak freezes business across the U.S.
As the coronavirus spreads, up to a quarter of U.S. workers have applied for jobless aid in the worst-off states.
One career counselor says now more than ever, finding work is about tailoring the skills you already have to the jobs that are available.
As an unprecedented 26 million Americans have filed for unemployment benefits in just five weeks, the claims system cannot handle the surge of applications. The backlog is exacerbating financial insecurity for millions of Americans who have lost their jobs. Optimal Capital market analyst Frances Stacy joins CBSN to discuss the dire economic situation.
Battered economy is dealing with a shock "the likes of which it has never seen," analysts say.
"It is terrifying," one freelancer said of seeing her income plummet while struggling to enroll for jobless benefits.
About 4.4 million Americans applied for unemployment benefits last week as the fallout from the pandemic continued.
Another 4.4 million Americans filed initial jobless claims last week. Millions of furloughed and laid-off workers are concerned about their jobs and the overall employment landscape amid the coronavirus crisis. CBS MoneyWatch contributor Aimee Picchi joins CBSN to discuss how to navigate the uncertainty.
Farmers around the U.S. have been forced to dump milk and destroy produce as schools, restaurants and other institutions remain closed due to the coronavirus pandemic.
Nearly a month after Congress expanded jobless aid to cover them, drivers say they're still waiting for help.
"I'm grateful for it, but $1,200 — I'm not sure if it covers much," said one person who has received the payment.
An estimated 17 million people could now be facing hunger, in addition to those who already battle it every day.