By Heather Long and Alyssa Fowers
The Washington Post
A record 3.3 million Americans applied for unemployment benefits last week, the Labor Department said Thursday, as restaurants, hotels, barber shops, gyms and more shut down in a nationwide effort to slow the spread of the deadly coronavirus.
Laid off workers say they waited hours on the phone to apply for help. Websites in several states, including New York and Oregon, crashed because so many people were trying to apply at once.
“The most terrifying part about this is this is likely just the beginning of the layoffs,” said Martha Gimbel, a labor economist at Schmidt Futures.
The nation’s unemployment rate was 3.5 percent in February, a half-century low, but that has likely risen already to 5.5 percent, according to calculations by Gimbel. The nation hasn’t seen that level of unemployment since 2015.
Read the full story in the Washington Post at https://www.washingtonpost.com/business/2020/03/26/unemployment-claims-coronavirus-3-million/