America’s growing ranks of jobless workers underscored the severe toll the coronavirus pandemic has taken on the world’s largest economy, while heightening a polarizing debate over restarting the U.S. economy.
On Thursday, the Labor Department showed that nearly 3 million people filed unemployment claims — hitting a staggering new milestone of over 36 million individuals pushed out of work since the COVID-19 crisis forced the shutdown of public life and whipsawing markets in early trading.
Gene Sperling, the former director of the National Economic Council under both Presidents Clinton and Obama, told Yahoo Finance in an interview that the crisis has hit the working class the hardest, given that many are unable to work remotely.
“And so when their businesses are closed, they, you know, they lose their job outright. So in a sense, lower income Americans are really taking a deep hit, both in losing jobs, both in suffering