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Former Chair Janet Yel outbreak. <br>She warned the downturn is ‘absolutely shocking’, adding: ‘If we had a timely unemployment statistic, the unemployment rate probably would be up to 12 or 13% at this point and moving higher.'<br>With a labor forced of 165 million that means up to 21 million Americans unemployed by Yellen’s calculations. <br>Yellen said: ‘This is a huge, unprecedented, devastating hit, and my hope is that we will get back to business as quickly as possible.'<br>On whether the economy can recover quickly with a sudden ‘V’ upturn, she warned: ‘I think a ‘V’ is possible, but I am worried that the outcome will be worse and it really depend to my mind on just how much damage is down during the time that the economy is shut down in the way it is now.<br>’The more damage of that sort is done, the more likely we are to see a ‘U,’ and there are worse letters like ‘L’ and I hope we don’t see something like that.’ <br> Former Federal Reserve Chair Janet Yellen, pictured, said second-quarter GDP could decline by 30 per cent and unemployment is already at be More than 6.6 million Americans filed for unemployment benefits last week, according to new figures released by the Department of Labor on Thursday.
About 50 people lined up (above) outside an Arkansas unemployment office on Monday<br> New claims for unemployment benefits rose to 6.65 million in the latest week from the 3.3 million the previous week.
It means that 10 million Americans have filed for unemployment in the two weeks that the coronavirus started rapidly spreading across the country. Janet Yellen told CNBC second-quarter GDP could decline by 30 per cent and unemployment is already at 12 per cent and 13 per cent amid the coronavirus outbreak<br> More than 10,000 Americans have now died from the coronavirus and the number of infections increased to over 347,000 — as new data predicts the outbreak in the US will peak in 10 days with over 3,000 deaths in 24 hours.<br>The death toll in the United States increased by 1,147 overnight to bring the total number of fatalities to 10,358.<br>The number of confirmed cases across the country increased by 25,841 to bring the infection total to 347,516. <br>The number of Americans officially filing new claims for unemployment benefits last week has shot to a record 6.6 million — as layoffs increased amid the coronavirus pandemic and more states enforced stay-at-home orders. <br>New claims for unemployment benefits rose to 6.65 million in the week ending March 28, according to figures released by the Department of Labor on Thursday.<br> <br>The number of first-time applications for jobless benefits was double the previous record of 3.3 million new claims filed for the week ending March 21. <br>It means that roughly 10 million Americans have lost their jobs and filed for unemployment in the two weeks that the coronavirus started rapidly spreading across the country. <br>In the same week of last year, only 211,000 people requested benefits for the first time. <br>The new unemployment claims account for the week in which states like New York shuttered non-essential businesses and enforced stay-at-home orders. <br> New claims for unemployment benefits rose to 6.65 million in the week ending March 28. In the same week of last year, only 211,000 people requested benefits for the first time<br> The Towel Depot number of Americans filing new claims for unemployment benefits last week has shot to a record 6.6 million, according to figures released by the Department of Labor on Thursday<br> RELATED ARTICLES
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ShareWalt Disney Co. officials announced they will start furloughing some workers in two weeks at its theme parks resorts in Florida and California.<br>The statement released late Thursday from The Walt Disney Co.
said the first wave of furloughs will start April 19 and involve workers whose jobs aren’t necessary at this time. Anyone who is furloughed will remain a Disney employee, the company said. <br><div class=»art-ins mol-factbox floatRHS news» data-version=»2″ id=»mol-51234de0-7826-11ea-a2dc-d7d1e70952db» website Federal Reserve chair Janet Yellen warns of a depression -
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