26.5 million Americans have filed for unemployment insurance as we inch closer to Great Depression figures.
from My Budget 360
The economic devastation brought on by the COVID19 outbreak has been dramatic. Healthcare systems across the world are undergoing stress that they have not witnessed in our lifetimes. The economic devastation is also startling as 26.5 million Americans have now filed for unemployment insurance dwarfing anything we saw during the Great Recession. This is a troubling time for Americans both on a healthcare front and an economic front. Yet the stark reality is that as a nation, the majority of our country was living one paycheck away from economic devastation. And here we are, with the economy essentially shut down and paychecks not coming through. While we may be bending the curve when it comes to COVID19, the economic damage curve is not going to recover for a very long time.