Nearly 3 million laid-off workers applied for U.S. unemployment benefits last week as the viral outbreak led more companies to slash jobs even though most states have begun to let some businesses reopen under certain restrictions. The ongoing wave of layoffs has heightened concerns that more government aid is needed to sustain the economy through the deep recession caused by the viral outbreak. Without another rescue package, many economists worry that thousands of small businesses will go bankrupt, leaving millions of the unemployed with no business to return to. And state and local governments, facing steep revenue shortfalls, could be forced to layoff millions of additional workers.
Paul Sancya/AP
A closed sign is shown at Romeo & Juliet Furniture and Appliances with an empty parking lot in Detroit, Thursday, April 2, 2020. The coronavirus COVID-19 outbreak has triggered a stunning collapse in the U.S. workforce with 10 million people losing their jobs in the past two weeks and economists warn unemployment could reach levels not seen since the Depression, as the economic damage from the crisis piles up around the world. (AP Photo/Paul Sancya)
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