Unemployment claims double to new record of 6.6 million thanks to #COVID19 #coronavirus @USDOL #unemployment #recession

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Financial Pandemic

First thing today, the United States Department of Labor delivered an even more staggering number of unemployment claims, beating last week’s claims by 2 times, at the tune of 6,648,000, 3,341,000 more claims filed than estimated last week, with financial experts officially declaring that we are now in a recession.

The grim number of 6.6 million not only bested the record thought to be made last week of 3.3 million, but unveils sobering honesty about the state of our economy, there’s just no work to be found, no income’s coming in from any facet except essential jobs, and the staggering amount of non-essential jobs that existed before COVID19 hit.

Aside from COVID19 creating a health and economic crisis, or declaring recession at the very least, the big question that businesses, investors, and financial advisors have on their hands is how to even plan for an economy where not only are people out of work and not earning, but planning out economic strategy when all of the population’s at risk of dying, if no vaccine is soon discovered to eradicate the coronavirus.

President Donald Trump tweeted on Tuesday that we need a new infrastructure bill to solve this economic, and health crisis once and for all, which is essential to the survival of mankind.

Daniel Quintanilla

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