Colorado’s expanded unemployment system, $600 CARES Act payments will launch Monday
The Colorado Department of Labor and Employment on Monday will begin accepting applications for the new pandemic unemployment assistance program that extends benefits to a range of previously uncovered workers and people affected by the COVID-19 outbreak. After creating a new claims system independent from the one that processes applications for Colorado’s standard unemployment insurance program, the labor department is hopeful it will be able to handle the needs.
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Lockdown has already cost the Indian economy around $350 billion
The impact of coronavirus has been severe in sectors like travel and mobility. According to a recent report, India’s daily GDP now stands at around $8 billion, Indian has been under lockdown for 44 days, which makes the overall economy to suffer around $350 billion in GDP loss. Small and Medium enterprises sector has suffered the most in these difficult times as most of the companies have shut down operations
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TOI
3.17 million Americans filed for unemployment benefits last week
US weekly jobless claims hit 3.17 million last week as the seven-week total reached a record 33.5 million. Although jobless claims are slightly above the estimates but remained below the previous week’s 3.8 million. The layoffs associated with social distancing practices have wiped out all of the job gains the economy has seen since the recovery from the Great Recession
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CNBC
Spain’s unemployment rate could cross 20% this year
According to the latest World Economic Outlook by the International Monetary Fund, Spain’s unemployment rate could reach 20.8% this year due to the economic crisis caused by Coronavirus. Spain and Italy implemented nationwide lockdown in March but the Spanish economy was more dependent on temporary contract workers which makes it more vulnerable to any economic impact. Every month of lockdown will cost 2% of its GDP, IMF says
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CNBC
Saturday COVID-19 numbers in South Dakota: 90 new state cases, 48 linked to Smithfield Foods
86 of the 90 new cases in the state are reported to be Minnehaha County residents. There are now 438 total COVID-19 cases reported in Minnehaha. The South Dakota Department of Health says it is important to note that Minnehaha County is currently experiencing substantial community spread of COVID-19.
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