US jobless claims hit 60 million as Congress dithers
Ramin Mazaheri
Press TV, Chicago
Jobless claims in the United States have now surpassed the 60-million mark in just six months. That is according to latest figures.
By comparison, there were only 37 million claims during the worst 18 months of the Great Recession a decade ago.
By every measure, the United States coronavirus lockdown, which was initially only supposed to last three weeks, has destroyed the economy, except for the extremely rich, who have seen their wealth grow by an estimated 40 percent, or 1.2 trillion dollars.
Half of all households report facing serious financial problems. In major urban areas like Chicago, that number rises to a stunning 66 percent for Black and Latino families. Nationwide, a third of households overall have exhausted their savings.
The data is increasingly clear: there has not been an immediate ‘V-shaped’ recovery nor a more protracted ‘Nike swoosh’ recovery, but a socially-disastrous ‘K-shaped economic recovery,’ as inequality is further separating the wealthy and the lower classes.
Extra unemployment payments ran out six weeks ago. Democrats and Republicans have refused to agree on a second stimulus package even though joblessness, poverty, hunger and insecurity of countless types increase daily to ever-more disastrous levels.
Malcolm X’s daughters sue US police, FBI, CIA over ‘intentional’ killing
Russian court orders Google to pay staggering fine of $20 decillion
US police arrest pro-Palestine protesters for 'occupying' Minnesota University building
VIDEO | Former FBI agent criticizes US Congress for 'outright corruption'
IRGC chief urges Muslim countries to cut aid routes to Israel
'New chapter in cooperation': Iran, Venezuela sign new MoUs
Jordan sentences former lawmaker for supporting Palestinian resistance
Basij volunteer forces hold massive drills in southwestern Iran
Israeli war criminals 'not welcome', US city says after ICC ruling
US vetoing of Gaza ceasefire resolution ‘disgraceful’: Iran’s UN envoy
VIDEO | IAEA adopts anti-Iran resolution tabled by E3
PressTV NEWSLETTER
now
This makes it easy to access the Press TV website
