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The U.S. Department of Labor1 says last week initial jobless claims spiked2 to 3.28 million. Here's what that means. According to Investopedia, this is the number of people who asked the government for unemployment benefits because they've lost their jobs in layoffs3 or business cutbacks. If they meet the requirements for getting help, the government will pay part of their income for a limited amount of time. And initial jobless claims counts those who request these benefits for the first time. The Labor Department's been keeping track of this statistic4 since 1967.
It's a major indication of how the U.S. economy is doing. And this is the first time that initial jobless claims have ever increased by 3.28 million.
The previous record in 1982 was less than 700,000. So this reflects how quickly the coronavirus pandemic has caused businesses to temporarily shutdown in most American industries. The silver lining5 is the word temporarily. Yes, economists6 are expecting millions of job losses in the weeks ahead. But they also expect the economy to get better later this year as the spread of COVID-19 slows down.
And U.S. Treasury7 Secretary Steven Mnuchin says the surge in unemployment claims was recorded before Congress passed an economic stimulus8 bill which he said would help. Workers on the front lines of this pandemic are being hailed as heroes. We told you how people in several countries are applauding healthcare providers. Now some grocery store employees are being recognized for their risks and hard work.
1 labor | |
n.劳动,努力,工作,劳工;分娩;vi.劳动,努力,苦干;vt.详细分析;麻烦 | |
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2 spiked | |
adj.有穗的;成锥形的;有尖顶的 | |
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3 layoffs | |
临时解雇( layoff的名词复数 ); 停工,停止活动 | |
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4 statistic | |
n.统计量;adj.统计的,统计学的 | |
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5 lining | |
n.衬里,衬料 | |
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6 economists | |
n.经济学家,经济专家( economist的名词复数 ) | |
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7 treasury | |
n.宝库;国库,金库;文库 | |
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8 stimulus | |
n.刺激,刺激物,促进因素,引起兴奋的事物 | |
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