6.6 Million Americans File for Unemployment in Past Week as Coronavirus Continues to Devastate Economy

Along with the 3.3 million workers who filed in mid-March, the new figures show that roughly 10 million Americans in total are now out of work.

Along with the 3.3 million workers who filed for unemployment in mid-March, the new figures show that roughly 10 million Americans in total are now out of work.

Workers have been hit hard by the Wuhan coronavirus pandemic, with various state governments banning public gatherings and shutting restaurants, theaters, gyms, and other businesses. The number of unemployment claims has exceeded even the dire predictions of economists, many of whom estimated 3.5 million Americans would file for unemployment this week, according to CNN.

“The speed and magnitude of the labor market’s decline is unprecedented,” Constance Hunter, chief economist at KPMG LLP, told the Wall Street Journal. Hunter now projects that roughly 20 million jobs will be lost in total during the coronavirus crisis.

Powered by National Review

Bernie Sanders isn’t quitting presidential race, claims to still have ‘narrow path to victory’

WASHINGTON — Sen. Bernie Sanders has defended his decision to stay in the Democratic presidential race, telling “The View”‘s Whoopi Goldberg: “Last I heard, people in a democracy have a right to vote.” The 78-year-old Vermont senator is facing increasing pressure to exit the race with former veep Joe Biden, now the presumptive nominee after…

[Complete Article]

Powered by News Corp

Chinese scientists on hunt for coronavirus treatment find ‘effective’ antibodies

Chinese scientists said they have found “extremely effective” antibodies in their efforts to come up with drugs to treat and even prevent the coronavirus, according to a report. Zhang Linqi at Beijing’s Tsinghua University told Reuters that his team has isolated several antibodies that can block the virus that causes COVID-19 from entering human cells….

[Complete Article]

Powered by News Corp

Hospitals in England order doctors to shave beards amid coronavirus crisis

They’re doing this shearly out of caution. Hospitals in England are ordering doctors with more than a day’s worth of beard stubble to shave on-site to ensure protective masks fit properly during the coronavirus crisis, according to a report Wednesday. Craig Sheridan, a general practitioner at Ipswich Hospital in Suffolk, said he was yanked out…

[Complete Article]

Powered by News Corp

‘It is time to cancel debt for Latin America,’ says CELAG

Buenos Aires, April 1 (Prensa Latina) The Latin American Geopolitical Strategic Center (CELAG) is leading a campaign today, to which prominent political figures have joined, in which there is an urgent need to cancel Latin America’s foreign debt.

The initiative, signed by former presidents Rafael Correa (Ecuador), Ernesto Samper (Colombia), Dilma Rousseff (Brazil), among others, consideres urgent the need to write off the Latin America´s debt as an indispensable measure to face the health emergency and subsequent economic plight caused by the Covid-19 pandemic.

‘Now the world has assumed a more humane and cooperative tone economically in the face of the Covid-19 pandemic, CELAG requests the cancellation of sovereign external debt of Latin American countries by the International Monetary Fund (IMF) and others multilateral organizations,’ according to the text.

Likewise, international private creditors are urged to accept an immediate debt restructuring process to contemplate an absolute 2-year default with no interest.

CELAG stressed that the United Nations Conference on Trade and Development forecats a US$2 trillion global revenue loss, as a result of this crisis, The International Labor Organization, for its part, estimates that 25 million jobs worldwide are at risk.

Powered by Plenglish