Unemployment Numbers Hit Historic Highs

Why the number of unemployed reached historical highs

Today’s unemployment claims for the past week came in at 3.4 million.

  • This marks an all-time high in unemployment numbers claims
  • Under the Phase 3 stimulus bill, workers who have been laid-off will be receiving a flat $600 for up to a maximum of sixteen weeks

This is on top of other benefits under the coronavirus pandemic stimulus plan.

The Phase Three coronavirus stimulus bill also allocates:

  • $130 billion for over-extended local hospitals
  • $150 billion for state and local governments
  • $500 billion for distressed companies

President Trump and his administration are trying to do damage control over the US economy. This is hands down the largest emergency stimulus program in the history of our country.