Apr 4, 2020
The current state of the United States and global economy is in limbo. The coronavirus pandemic is causing businesses, big and small, to lay off workers to keep afloat.
This past week, a record number of Americans filed for unemployment benefits — 6.6 million, according to the Department of Labor. The week before saw 3.3 million unemployment claims, symbolizing that things are looking to get worse, economically, before they get better.
“The common comparison right now is how different is this going to be than the Great Depression,” Dr. Kara Grant, an assistant professor of economics at Missouri Western State University, said. “But at the same time it is very unique.”
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